TRADE BARRIE

TRADE BARRIE

University

50 Qs

quiz-placeholder

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TRADE BARRIE

TRADE BARRIE

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Carl Alvin

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50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the general term that describes any government policy or regulation that restricts international trade?

Trade barriers

Protectionism

Tariffs

Non-trade barriers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do most countries have trade restrictions?

To increase world output

To protect local products from foreign competition

To promote international cooperation

To reduce trade imbalances

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main tools of protectionism policy?

Tariff barriers and non-trade barriers

Specific tariffs and ad valorem tariffs

Protection of domestic industries and revenue generation

Trade volume reduction and price increases for consumers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of tariffs?

To protect domestic industries

To generate government revenue

To correct trade imbalances

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of tariff is imposed based on the value of the import?

Specific tariffs

Ad valorem tariffs

Compound tariffs

Mixed tariffs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the historical perspective of tariffs?

Tariffs have been a common feature of international trade for centuries

Tariffs were introduced after World War II

Tariffs have been eliminated in recent decades

Tariffs are a recent phenomenon

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What organization succeeded the General Agreement on Tariffs and Trade (GATT)?

World Trade Organization (WTO)

European Single Market

North American Free Trade Agreement (NAFTA)

Uruguay Round

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