Which of the Following Trade Barriers Puts a Complete Ban

question 133

Multiple Choice

Which of the following trade barriers puts a complete ban on the import of specified products?

• A)Import quota
• B)Embargo
• C)Revenue tariff
• D)Subsidy

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Definitions:

Standard Of Living

A level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.

Real GDP Per Person

Gross Domestic Product adjusted for inflation and divided by the total population; a measure of the economic output per resident.

Human Capital

The collective skills, knowledge, expertise, and other attributes embodied in individuals that contribute to their economic productivity.

Physical Capital

The stock of equipment and structures that are used to produce goods and services.