module 77

embargos

complete ban on the import or export of certain products

price of foreign widgets in US

decreases

an infant industry is a well-established industry that can compete in the marketplace

false

quantity demanded of foreign widgets in u.s.

increases

supply of foreign widgets to the US

increases

quotas

limits on amount of specific product people can Import in a country

When an embargo is placed on goods from another country, no imports from anf exports to that nation are allowed

true

governments sometimes put pressure on other countries by limiting experts to those countries for political reasons like human rights violations

true

in most cases trade barriers are harmful to an economy

true

non-tariff barriers include licensing requirements for importers

true

trade barriers work against efficient allocation of resources

true

when choosing between quotas and tariffs tariffs are preferable because they

true

non-tariff barriers

type of trade barrier that restricts Imports on foreign made products example embargo

are trade barrier is generally considered beneficial towards pressuring of foreign government for political reasons

yes

are trade barriers generally considered beneficial to infant Industries

yes

are trade barriers generally considered beneficial towards National Defense Industries

yes

are trade barriers generally considered beneficial towards industries that give political contributions to members of congress

no

are trade barriers generally considered beneficial towards protecting jobs and Industry with the comparative advantage

no

tariffs

specialized taxes levied on certain in points to protect domestic producers