SS6E8a,b,&c-Specialization, Trade Barriers, & Currency Exch

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

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Embargo

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A tariff....

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Encourages people to buy goods made from their country.

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What is a tariff?

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A tax placed on imports goods.

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What is an embargo?

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A government order to stop trade.

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What is a quota?

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A limit placed on imports.

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Japanese auto firms agree to limits set in Washington D.C., on the # of Japanese cars that may be sold in the U.S. THIS is an example of....?

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Quota

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In 2010, China announced that it would impose a tax on American poultry of up 105.4%. THIS is an example of...?

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Tariff

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Russian government found deadly chemicals in German hamburgers. What will keep Russians safest? Options: An embargo against German hamburger meat producers, A tariff on German hamburgers, A quota on German hamburgers, Free trade with German hamburger producers

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An embargo against German hamburger meat producers

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What does this picture represent best?

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Specialization

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You are on a trip to Germany. You swap your dollars for Euros. Why exchange currency while you are there?

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To buy or sell goods in Germany; they won't take dollars.