Trade Barriers & Currency
Flashcard
•
Other
•
6th - 8th Grade
•
Practice Problem
•
Hard
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8 questions
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1.
FLASHCARD QUESTION
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
2.
FLASHCARD QUESTION
Front
A tariff....
Back
Encourages people to buy goods made from their country.
3.
FLASHCARD QUESTION
Front
What is a tariff?
Back
A tax placed on imports.
4.
FLASHCARD QUESTION
Front
What is an embargo?
Back
A government order to stop trade.
5.
FLASHCARD QUESTION
Front
What is a quota?
Back
A limit placed on imports.
6.
FLASHCARD QUESTION
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
7.
FLASHCARD QUESTION
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.
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