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