#1
Which of the following is an example of a tariff?
Subsidies provided to domestic producers
Quotas on imports
Tax imposed on imported goods
Trade agreements between nations
#2
What is the primary purpose of imposing trade barriers?
To encourage international trade
To protect domestic industries
To promote foreign investment
To standardize global market prices
#3
Which organization oversees international trade agreements and dispute resolutions?
World Bank
International Monetary Fund (IMF)
World Trade Organization (WTO)
United Nations (UN)
#4
What is an example of a subsidy as a trade barrier?
Export tariffs
Quotas on imports
Financial assistance to domestic producers
Voluntary export restraints
#5
What is the term for a tax imposed on goods that are traded internationally?
Subsidy
Quota
Tariff
Embargo
#6
What is the term for a form of trade barrier where a country restricts the quantity of a good that can be imported over a specific period?
Tariff
Quota
Subsidy
Embargo
#7
What is the term for the practice of selling goods in a foreign country at a price lower than the domestic price?
Dumping
Subsidy
Tariff
Quota
#8
What does the term 'protectionism' refer to in economics?
Promoting free trade policies
Imposing trade barriers to protect domestic industries
Encouraging foreign investment
Eliminating all trade barriers
#9
Which of the following is NOT a non-tariff trade barrier?
Quotas
Embargoes
Import tariffs
Voluntary export restraints
#10
What is the effect of a trade barrier on consumer choices?
Increases variety of imported goods
Reduces choices available to consumers
Has no impact on consumer choices
Increases competition among domestic producers
#11
What is the term used to describe the complete absence of trade barriers?
Autarky
Protectionism
Globalization
Free trade
#12
Which of the following is an example of a trade barrier implemented for national security reasons?
Import quotas
Export subsidies
Embargoes
Trade agreements
#13
What is the term for a government policy that seeks to maintain a favorable balance of trade by limiting imports?
Import substitution
Export promotion
Trade liberalization
Trade deficit reduction
#14
What is the term for an agreement between two or more countries to reduce or eliminate trade barriers between them?
Tariff
Embargo
Quota
Trade agreement
#15
What is the 'infant industry argument' often used to justify?
Maintaining free trade policies
Imposing tariffs to protect emerging domestic industries
Encouraging import quotas
Promoting foreign investment
#16
What is the primary purpose of a voluntary export restraint (VER)?
To limit exports from the importing country
To encourage free trade agreements
To avoid the imposition of tariffs
To restrict imports into the exporting country
#17
Which of the following is NOT a consequence of imposing trade barriers?
Increased domestic employment
Higher consumer prices
Reduced international trade
Expansion of global markets