Trade in Europe: SS6E8 Quiz ( Re-do)

True or False. Exchange rates are constantly changing.

• True

• False

• Sometimes

• Never

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

• Embargo

• Tariff

• Subsidy

• Quota

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?

• Embargo

• Quota

• Subsidy

• Tariff

What are tariffs?

• Subsidies for exports

• Taxes on imports

• Limits on quantity

• Bans on trade

What is a quota?

• A subsidy for exports

• A limit on quantity

• A tax on imports

• A ban on trade

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

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?

• Tariff

• Quota

• Embargo

• None of these

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

• tariff

• quota

• embargo