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ECON Protectionism and Preferential tariffs

ECON Protectionism and Preferential tariffs

Assessment

Presentation

Business

11th Grade

Practice Problem

Medium

Created by

Shauna-Kay Herah

Used 5+ times

FREE Resource

12 Slides • 11 Questions

1

ECON Protectionism and Preferential tariffs

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Multiple Choice

limit the flow of goods, services, and productive resources between countries.

1

trade surplus

2

trade barriers

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balance of trade

10

Multiple Choice

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A type of economic policy that attempt to protect businesses in a country from foreign competition, usually by putting tariffs on goods from other countries to make them more expensive

1

Free trade

2

Protectionism

3

Interdependence

4

Specialization

11

Multiple Choice

The UK has imposed a ban on Syrian oil exports as a political measure. This is an example of a ......

1

Tariff

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Quota

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Embargo

4

None of these

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Multiple Choice

A total ban on imported products is a .....

1

Tariff

2

Quota

3

Embargo

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Subsidy

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Multiple Choice

A tax or duty that raises the price of imported products is a .....

1

Quota

2

Tariff

3

Embargo

4

Subsidy

14

Multiple Choice

An import quota is a
1
tax on import quantities above the legal limit.
2
way to increase tariff revenues for the exporting country.
3
legal limit on the amount of a good that can be imported into a country.
4
legal incentive for members of WTO to increase their exports of a good or service.

15

Multiple Choice

Which method of protection raises revenue for the government?

1

domestic subsidies

2

embargo

3

quota

4

tariff

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20

Multiple Choice

What is a tariff?

1

A tax on exported goods

2

An increase in the price of a good so the store owner makes money

3

A tax on imported goods

4

the cost of a good

21

Multiple Choice

Countries in a trading group generally do not give preferential tariffs to the partners in the group.

1

TRUE

2

FALSE

22

Multiple Choice

The exporting country benefits from preferential tariffs.

1

TRUE

2

FALSE

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Multiple Choice

A disadvantage of preferential tariffs is that consumers may lack goods from competing suppliers.

1

TRUE

2

FALSE

ECON Protectionism and Preferential tariffs

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