MPP International Trade MCQ

A trade agreement that eleminates barriers between the United States, Canada, and Mexico.

• ASEAN
• EU
• NAFTA

A union which promotes free movement of goods and workers across borders in Euroupean countries.

• ASEAN
• EU
• NAFTA

The association of 12 member nations of southeast Asia to promote economic growth, free trade and economic collaboration between member nations is called (a)   .

• ASEAN
• EU
• NAFTA

A ban; government prohibits the import of that item.

• embargo
• standard
• subsidy

Government makes payments to local suppliers to reduce the production costs of the supplier.

• embargo
• standard
• subsidy

A tax on imports

• tariff

• import tax

• supply

• embargo

Rules used to try to limit trade with other countries

• embargo

• tariff

• trade barriers

• quota

Which of these country is NOT a member of ASEAN?

• Cambodia

• China

• Laos

• Brunei

Why would a country impose a tariff or quota on imported goods?

• to raise the price of imported goods and encourage people to buy local
• to raise the price of imported goods to help other countries make more money
• to be mean!

A tariff is when a _______ is put on an imported good

• Tax
• Limit
• Block