Trade in Europe: SS6E8 Flashcard ( Re-do)

Front

True or False. Exchange rates are constantly changing.

Back

True

Front

A nation forbids trade with another country. This is an example of what kind of trade barrier?

Back

Embargo

Front

If a U.S. company wants to export fruit to a country in the European Union (EU), the U.S. company must pay a tariff which makes U.S. fruit more expensive. This is an example of what kind of trade barrier?

Back

Tariff

Front

What are tariffs?

Back

Taxes on imports

Front

What is a quota?

Back

A limit on quantity

Front

Which of the following are all examples of Trade Barriers? Import quota, Subsidies, Embargos; Tariffs, Comparative Advantage, Monetary Policy; Comparative Advantage, Fiscal Policy, Monetary Policy; EU, NAFTA, ASEAN

Back

Import quota, Subsidies, Embargos

Front

Only 300,000 barrels of Venezuelan oil are allowed to be imported to Israel each year. This is an example of which type of trade barrier?

Back

Quota

Front

The United Kingdom adds a tax on all fabric imported from Italy.

Back

tariff