Trade Barriers

Question 1

How are subsidies similar to tariffs?

Revolt · Accepted Answer

Both allow domestic goods to compete against foreign goods.

Question 2

Which type of trade barrier is explicitly used for political purposes?

Revolt · Accepted Answer

embargoes

Question 3

Why do countries provide financial incentives?

Revolt · Accepted Answer

Financial incentives act as trade barriers.

Question 4

What is the purpose of quotas?

Revolt · Accepted Answer

to limit how much of a good can be imported

Question 5

What term describes a ban or restriction on trade with another country?

Question 6

Often duties and taxes are imposed on cars that are imported from other countries. What types of incentives are these duties and taxes?

Revolt · Accepted Answer

negative incentive and tariff.

Question 7

Tariffs and subsidies are both examples of

Revolt · Accepted Answer

incentives—one positive and one negative.

Question 8

On which country has the United States imposed an embargo since 1960?

Revolt · Accepted Answer

Cuba

Question 9

Which best describes how standards help domestic producers?

Revolt · Accepted Answer

Standards require goods to meet basic requirements.

Question 10

importeddomestic

Revolt · Accepted Answer

imported

Trade Barriers Answers