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Economics
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3 Nov 2020

10. _____ are quotas that result in a total prohibition of trade.

a. Embargoes

b. Tariff-rate quotas

c. Voluntary export restraints

d. Nontariff barriers 

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Microeconomics
Skill
Understanding Protectionism
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Raushan Raj
Raushan RajLv8
3 Nov 2020

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Related questions

There are two questions related to Tariffs

Is it possible for a low nominal tariff rate to understate the effective rate of protection? What is tariff escalation?

How can tariffs be justified?

There are two questions related to Nontariff Trade Barriers

1. Describe some of the differences between tariffs and quotas?

2. What are the intent and impact of domestic content requirements?

11. Consider the following statements with respect to the North American Free Trade Agreement (NAFTA). Which of these are true?

a. It was a trade deal between the United States, Mexico, and Canada.

b. It agreed to reduce tariffs, import quotas, and nontariff barriers to trade between the United States, Mexico, and Canada.

c. Both a and b are true. 

Excise taxes on imported goods that help shield domestic producers of the good are called

A. protective tariffs.

B. import quotas.

C. revenue tariffs.

D. voluntary export restrictions.

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