ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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raising production standards
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increasing tariffs on imports
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removing quotas on imports
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increasing export subsidies
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Detailed explanation-1: -The import quota reduces the supply of imports. This reduces the overall natural supply of goods in the domestic country and causes prices to rise above what many other countries may pay for a good where there are no artificially imposed limits on goods.
Detailed explanation-2: -Key Components of U.S. Trade Policy Negotiation of trade agreements to open markets and set rules on trade and investment; enforcement of commitments via dispute settlement and U.S. trade laws. financing, market research, advocacy, and trade missions; licensing and control of strategic exports.
Detailed explanation-3: -A tariff makes an import more expensive. A quota reduces the amount of a product that can get in the country.
Detailed explanation-4: -Free trade refers to policies that allow permit inexpensive imports and exports, without tariffs or other trade barriers.