Protectionism
a year ago
durquhart1
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20 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    Which method of protection raises revenue for the government?

    answer choices

    domestic subsidies

    embargo

    quota

    tariff

  • Question 2
    30 seconds
    Q.

    An argument against trade protectionism is that it will increase

    answer choices

    competition for domestic industries

    domestic price level

    the current account deficit

    opportunities for domestic infant industries

  • Question 3
    30 seconds
    Q.

    what would reduce an economy's protection against the import of cars?

    answer choices

    a lower exchange rate

    a higher quotas imported cars

    a higher tariff on imported cars

    higher subsidy for domestic car producers

  • Question 4
    30 seconds
    Q.

    What would be an economic benefit to a country of imposing a tariff on imported goods?

    answer choices

    A it would increase global productivity

    B it would make the country's exports more competitve

    C it would put pressure on foreign suppliers to reduce their prices

    It would reduce the prices paid by consumers for imported goods

  • Question 5
    30 seconds
    Q.

    Which of the following is NOT an argument in favor of protectionism?

    answer choices

    Protectionism shields infant industries from foreign competition

    Protectionism safeguards workers’ jobs

    Protectionism promotes industries that are essential to national security

    Protectionism makes domestic firms more competitive in the long run

  • Question 6
    30 seconds
    Q. An import quota is a
    answer choices
    tax on import quantities above the legal limit.
    way to increase tariff revenues for the exporting country.
    legal limit on the amount of a good that can be imported into a country.
    legal incentive for members of WTO to increase their exports of a good or service.
  • Question 7
    30 seconds
    Q.

    A tax or duty that raises the price of imported products is a .....

    answer choices

    Quota

    Tariff

    Embargo

    Subsidy

  • Question 8
    30 seconds
    Q.

    Tariffs are used to protect “Infant Industries”

    answer choices

    True

    False

  • Question 9
    30 seconds
    Q.

    Countries may impose tariffs on imports to retaliate to the protectionist policies of another country. This is called a Trade War.

    answer choices

    True

    False

  • Question 10
    30 seconds
    Q.

    Quotas are not popular with consumers because they limit consumer choice. This makes products more expensive.

    answer choices

    False

    True

  • Question 11
    30 seconds
    Q.

    The main beneficiaries of quotas are the workers, managers and shareholders who will face less competition from foreign companies.

    answer choices

    False

    True

  • Question 12
    30 seconds
    Q.

    A total ban on imported products is a .....

    answer choices

    Tariff

    Quota

    Embargo

    Subsidy

  • Question 13
    30 seconds
    Q.

    The UK has imposed a ban on Syrian oil exports as a political measure. This is an example of a ......

    answer choices

    Tariff

    Quota

    Embargo

    None of these

  • Question 14
    30 seconds
    Q.

    Financial Protectionism is when a national government instructs banks to give priority when making loans at favourable interest rates to domestic businesses.

    answer choices

    True

    False

  • Question 15
    30 seconds
    Q.

    Over-production in developed countries may be released into the markets of developing nations, which undercuts domestic prices and domestic producers may be forced to leave the market. This is called....

    answer choices

    Dumping

    Quota

    Tariffs

    Embargo

  • Question 16
    30 seconds
    Q.

    Placing restrictions on imports may help to reduce a balance of payments deficit on current account

    answer choices

    True

    False

  • Question 17
    30 seconds
    Q.

    Countries employ measures such as complex legal forms, health and safety inspections and specific product specifications. This discourages imports by raising costs.

    answer choices

    True

    False

  • Question 18
    30 seconds
    Q.

    In 2015 the EU paid British Farmers 10p for every pint of milk produced. This is an example of a .....

    answer choices

    Tariff

    Quota

    Form of Financial Protectionism

    Subsidy

  • Question 19
    30 seconds
    Q.

    If legislation is passed to protect against imports the main beneficiaries will be foreign firms.

    answer choices

    False

    True

  • Question 20
    30 seconds
    Q.

    An example of murky or hidden protectionism is government measures that indirectly discriminate against foreign workers, investors and traders.

    answer choices

    True

    False

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