The Japanese government was pressured by the U.S. government to place limits on the number of vehicles exported to the United States by Japanese automobile producers in 1981. This is an example of:Question 2Select one:a.Ad valorem tariffs.b.Specific tariffs.c.A tariff rate quota.d.A voluntary export restraint.

A __________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products. tariff duty trading bloc trade agreement quota

A country prohibits the import of foreign cars. This exemplifies a(n)Multiple Choiceimport duty.embargo.quota.tariff.

Tariffs are a tax on imports. They operate by imposing an extra cost, or tax, on each unit of some specific good that is brought into a country from the targeted country. In March 2018, the United States placed a 25% tax on imported steel from most countries to encourage steel consumers to buy from U.S. companies.Quotas are a limit on the number of a certain good that can be imported from a certain country. For example, the U.S. might limit the number of Japanese cars that can be imported to 1 million units.Embargoes occur when one country bans trade with another country. This can be limited to one specific good like oil or can include all goods from a specific country. Embargoes are relatively rare, but the U.S. imposed a trade embargo on Cuba in 1962.Standards involve making sure that all goods imported from a country or region meet specific criteria. The criteria may relate to health and safety issues, like not allowing the use of certain pesticides, or require certain labor conditions or ban products containing materials like ivory.Subsidies are a direct payment from a government to industries within their own country. For example, farmers might receive financial help from the U.S. government to make sure they can grow crops at a competitive price.

Direct restrictions on the quantity of some good that may be imported into a country are known as:Question 5Select one:a.None of the aboveb.Ad valorem tariffsc.Specific tariffsd.Tariff rate quotas

Tariff obstacles are the following, except; a. Legal Restriction b. Import And Export Quotas c. Exchange Controls d. Protectionism e. Import and Export Tariffs