Protectionism

Which method of protection raises revenue for the government?

• domestic subsidies

• embargo

• quota

• tariff

what would reduce an economy's protection against the import of cars?

• a lower exchange rate

• a higher quotas imported cars

• a higher tariff on imported cars

• higher subsidy for domestic car producers

An import quota is a

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

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

• Quota

• Tariff

• Embargo

• Subsidy

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

• Tariff

• Quota

• Embargo

• Subsidy

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

• Tariff

• Quota

• Embargo

• None of these

Over-production in developed countries may be released into the markets of developing nations, which undercuts domestic prices and domestic producers may be forced to leave the market. This is called....

• Dumping

• Quota

• Tariffs

• Embargo

Which of these are impacts of Tariffs? (more than one may be true)

• Tariffs can increase the number of jobs in several countries

• A foreign producer will cut production due to reduced demand on products that have a Tariff applied

• A Tariff will increase competition

• A Tariff will protect inefficient domestic industries

Why do Governments use Tariffs? (more than one may be true)

• To raise tax revenue

• To protect domestic industries from foreign competition

• To protect the environment from potentially more harmful products

• To encourage new imports into the country

Which of these is a benefit of having Tariffs?

• More imports in the country offer consumers a greater variety of choice

• Foreign firms are less likely to invest in the country to avoid paying the Tariff

• Domestic produced products are cheaper as the Tariff is not applied to them