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International Trade Policies and Restrictions Quiz

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International Trade Policies and Restrictions Quiz

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Questions and Answers

What is the most common form of tariff?

Ad valorem tariff, which is a fixed percentage on the value of the traded commodity

Specific tariff, which is a fixed amount of tax per physical unit of the imported or exported commodity

Export tariff, which is a tax on exported commodities occasionally practiced in developing countries to generate government revenue

Import tariff, which is a tax on imported commodities usually imposed to limit the volume of imports (correct)

What is an export tariff primarily used for?

Generating government revenue (correct)

Limiting the volume of exports

Encouraging international trade

Protecting domestic industries

What is an ad valorem tariff based on?

The weight of the traded commodity

A fixed amount per unit of the traded commodity

The volume of the traded commodity

A fixed percentage on the value of the traded commodity (correct)

What is the purpose of a specific tariff?

To protect domestic industries Signup and view all the answers

Which group typically advocates for trade policies imposing restrictions?

Special interest groups that stand to benefit from trade restrictions Signup and view all the answers

What is the primary purpose of an import tariff?

To limit the volume of imports Signup and view all the answers

What is an export tariff primarily used for in developing countries?

To generate government revenue Signup and view all the answers

What does an ad valorem tariff apply to?

The value of the traded commodity Signup and view all the answers

Which form of tariff is most commonly imposed to limit the volume of imports?

Import tariff Signup and view all the answers

What is the purpose of an ad valorem tariff?

To impose a fixed percentage on the value of the traded commodity Signup and view all the answers