The United States Feels That It Has Become Too Dependent

question 43

Multiple Choice

The United States feels that it has become too dependent on oil from Saudi Arabia,so it charges a tax of $10 per barrel on oil that can be imported from Saudi Arabia.This is an example of a(n)

• A) nontariff trade barrier.
• B) import quota.
• C) tariff.
• D) export subsidy.
• E) import subsidy.

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Definitions:

Rapid Growth

A phase of business development characterized by a swift and significant increase in revenue, production, or market share.

Department Stores

Large retail establishments that offer a wide range of consumer goods across different categories such as clothing, home goods, and cosmetics, typically housed in separate departments.

Macy's

An American department store chain known for its diverse range of products, including clothing, accessories, home furnishings, and more.

Kohl's

An American department store retail chain, offering a wide selection of clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.