SS6E2

Front

What is a quota?

Back

A limit placed on imports.

Front

When one country refuses to trade with another country because of political or infringements of human rights it is called:

Back

embargo

Front

Which of the following trade barriers would NOT be effective if a leader only wants to limit trade? Tariff, Quota

Back

Embargo

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

In order to help Russian farmers sell more food, some people want to put a tax on the food imported from other countries. This is an example of a(n)

Back

tariff

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

Front

Why would a country impose a tariff or quota on imported goods?

Back

to raise the price of imported goods and encourage people to buy local

Front

In general, what effect does a quota have on the prices of comparable goods in the domestic market?

Back

It keeps prices from dropping.

Front

Countries sometimes set up _____________________ to restrict trade because they want to sell and produce their own goods.

Back

trade barriers

Front

Which is an example of specialization? Options: a business makes many different kinds of goods, a country buys all the goods it needs from another country and does not produce any goods themselves, a factory focuses on producing one or two goods and leaves production of other goods to other factories, a violin maker makes a violin from himself by cutting down a tree for wood

Back

a factory focuses on producing one or two goods and leaves production of other goods to other factories