Trade Barriers & Currency

Front

In 1962, the United States prohibited all imports and exports to and from Cuba. What is this action called? (Options: Tariff, Embargo, Quota)

Back

Embargo

Front

A tariff....

Back

Encourages people to buy goods made from their country.

Front

What is a tariff?

Back

A tax placed on imports.

Front

What is an embargo?

Back

A government order to stop trade.

Front

What is a quota?

Back

A limit placed on imports.

Front

Japanese auto firms agree to limits set in Washington D.C., on the # of Japanese cars that may be sold in the U.S.

Back

Quota

Front

What happens to Chinese imports if China loses its most favored nation trading status due to human rights abuses?

Back

All Chinese imports will experience a sharp increase in taxes.

Front

In 2010, China announced that it would impose an import tax on American poultry of up to 105.4 percent. What is this tax called? (Options: Tariff, Embargo, Quota)

Back

Tariff