Trade Barriers

Trade Barriers

Multiple Choice

1. Company XYZ produces cheese in Scotland and exports the cheese, which costs $100 per pound, to the United States. A 20% tax would require Company XYZ to pay the United States government $20 to export the cheese

• Tarriff

• Quota

• Embargo

Multiple Choice

2.In 2010, Mexico imposed a limit of 250,000 tons of sugar that could be imported into Mexico.

• Tariff

• Quota

• Embargo

Multiple Choice

3. In 1962, the United States prohibited all imports and exports to and from Cuba.

• Tariff

• Quota

• Embargo

Multiple Choice

4. In 2006, the United Nations Security Council unanimously adopted a resolution to restrict the export to and the import from Iran on certain items and technology potentially related to nuclear weapons.

• Tariff

• Quotas

• Embargos

Multiple Choice

5.In 2010, China announced that it would impose an import tax on American poultry of up 105.4 percent.

• Tariff

• Quota

• Embargo