International Trade Barrier - Tariffs
3 hours ago
ashleywong_86690
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12 QuestionsShow answers
  • Question 1
    30 seconds
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    Q.

    WHY ARE TARIFFS USED?

    answer choices

    TO PROTECT DOMESTIC JOBS AND INDUSTRIES

    TO RAISE REVENUE FOR GOVERNMENT

    TO PROTECT STRATEGIC INDUSTRIES

    ALL OF THE ABOVE

  • Question 2
    30 seconds
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    Q.

    What is the effect of a tariff on Producer Surplus?

    answer choices

    Increases

    Decreases

    Unchanged

    Disappears

  • Question 3
    30 seconds
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    Q.

    What is the effect of a tariff on Consumer Surplus?

    answer choices

    Increase

    Decrease

    None

    Disappears

  • Question 4
    30 seconds
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    Q.

    WHAT ARE THE NEGATIVE IMPACT OF TARIFFS

    answer choices

    LOWER PRICES

    MORE CHOICE

    LACK OF DOMESTIC INNOVATION

    GREATER CHOICE

  • Question 5
    30 seconds
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    Q.

    WHY WOULD A TARIFF EFFECT INNOVATION?

    answer choices

    DOMESTIC FIRMS OVER CONDFIDENCE

    LACK OF COMPETITION

    BOTH

  • Question 6
    30 seconds
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    Q.

    What is a tariff?

    answer choices

    A tax on exported goods

    An increase in the price of a good so the store owner makes money

    A tax on imported goods

    the cost of a good

  • Question 7
    30 seconds
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    Q.

    Why were tariffs created?

    answer choices

    To convince Great Britian to stop impressing U.S. sailors

    To improve trade between the United States and Great Britian.

    To encourage people in the United States to purchase American made goods.

    To help the cotton trade in the southern states.

  • Question 8
    30 seconds
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    Q.

    Who has the power to create tariffs?

    answer choices

    State governments

    Federal government

    Store owners

    Factory owners

  • Question 9
    30 seconds
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    Q.

    A tax of 20 cents per unit of imported cheese would be an example of a (an):

    answer choices

    Compound tariff

    Effective tariff

    Ad valorem tariff

    Specific tariff

  • Question 10
    30 seconds
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    Q.

    A tax of 15 percent per imported item would be an example of a (an):

    answer choices

    Ad valorem tariff

    Specific tariff

    Effective tariff

    Compound tariff

  • Question 11
    30 seconds
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    Q.

    Ad valorem tariffs are collected as

    answer choices

    fixed amounts of money per unit traded

    a percentage of the price of the product

    a percentage of the quantity of imports

    all of the above

  • Question 12
    Ungraded
    900 seconds
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    Q.

    Please explain the diagram.

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