#1
Which of the following is an example of a tariff barrier in international trade?
Import quota
Subsidies
Export restriction
Import duty
#2
What is the purpose of an import quota?
To encourage exports
To restrict the quantity of imports
To decrease domestic production
To eliminate trade barriers
#3
Which organization oversees international trade disputes and negotiations?
World Trade Organization (WTO)
International Monetary Fund (IMF)
United Nations (UN)
World Bank
#4
What is the term for a government payment to a domestic producer that lowers the cost of production?
Quota
Tariff
Subsidy
Embargo
#5
Which trade barrier involves setting a limit on the quantity of a good that can be imported in a given period?
Subsidy
Tariff
Import quota
Embargo
#6
What is the term for a tax on goods that are traded internationally?
Quota
Tariff
Subsidy
Embargo
#7
Which trade agreement eliminated most tariffs on trade among its member countries?
#8
What is the Smoot-Hawley Tariff Act?
A trade agreement between the US and China
A tariff act that led to increased global trade
Legislation that imposed high tariffs during the Great Depression
A treaty aimed at reducing trade barriers in Europe
#9
What is the purpose of a trade embargo?
To encourage imports
To promote domestic production
To restrict trade with a particular country
To eliminate subsidies
#10
Which trade policy aims to protect domestic industries from foreign competition by raising the cost of imported goods?
Import quota
Export promotion
Tariff
Free trade agreement
#11
Which of the following is NOT a motive for imposing trade barriers?
Protecting domestic industries
Promoting international cooperation
Correcting trade imbalances
Protecting national security
#12
Which international organization facilitates trade negotiations and provides a forum for resolving trade disputes?
International Monetary Fund (IMF)
United Nations (UN)
World Trade Organization (WTO)
World Bank
#13
Which of the following is an example of a non-tariff barrier to trade?
Import duty
Subsidies
Embargo
Export promotion
#14
What is dumping in the context of international trade?
Exporting goods at a price below their production cost
Trading goods without tariffs
Removing import restrictions
Encouraging imports through subsidies
#15
What is the term for an agreement between two or more countries to reduce or eliminate trade barriers among themselves?
Embargo
Tariff
Trade pact
Dumping
#16
What is the term for the practice of selling goods in a foreign market at a price lower than their domestic market price or production cost?
Dumping
Tariff
Subsidy
Embargo