Countries Might Impose A(n)________ in Response to the Threat of an Import

question 102

Multiple Choice

Countries might impose a(n) ________ in response to the threat of an import quota or total ban on a product by an importing nation.

• A) embargo
• B) ad valorem tariff
• C) compound tariff
• D) voluntary export restraint

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Definitions:

Dispatch

The sending off of a message, parcel, or shipment with speed and efficiency.

Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, starts to decrease.

Per-worker Production Functions

The relationship between the amount of output produced per worker and the amount of inputs used per worker.

Slopes

In mathematics, it represents the steepness or incline of a line, indicating the rate at which it rises or falls.