Protectionism

Which policy is a form of protectionism?

• a tax on income

• a tax on imports

• a tax on property

• a tax on emissions

Which method of protection always reduces the supply of an imported good to zero?

• Quota

• Tariff

• Embargo

• Subsidy

Tags

Protectionism

Economics

IGCSE

International

Trade

What is a quota in international trade?

• a tax on imports

• a limit on the quantity of imports

• an administrative and technical barrier

• a government grant to encourage production

Which protectionist measure would be most suitable for a government to use to support the growth in exports of an industry?

• tariff

• quota

• embargo

• subsidy

The US government decides to reduce the size of the quota on a good it buys from China. What is likely to happen?

• The US balance of trade will worsen.

• The good will become cheaper in the US.

• The US government’s revenue will decline.

• There will be less of the good imported into the US.

A country imposes tariffs and quotas on imported goods. What will citizens of that country experience?

• higher prices

• higher welfare

• higher unemployment

• wider consumer choice

What is the most likely benefit for a low-income economy if it removes tariffs on imported goods and services?

• more tax revenue from imports

• more exports by domestic firms

• more choice for domestic consumers

• more employment in declining industries

Tags

Protectionism

Economics

IGCSE

International

Trade