41) Country X protects its domestic manufacturers from foreign competition by using a variety of nontariff barriers. Which of the following is NOT one of those nontariff barriers?
A) foreign trade zones
B) product standards
C) regulatory controls
D) local purchase requirements
42) A ________ is a numerical limit on the quantity of a good that may be imported into a country during some time period.
A) quota
B) numerical export control
C) voluntary export restraint
D) regulatory control
43) As a result of trade agreements, many countries have replaced quotas with ________.
A) tariff rate quotas
B) numerical export controls
C) voluntary export restraints
D) regulatory controls
44) A(n) ________ imposes a low tariff rate on a limited amount of imports of a specified good, but imposes a prohibitively high tariff on the good above that limited amount.
A) tariff rate quota
B) numerical export control
C) voluntary export restraint
D) ad valorem tariff
45) The U.S. government has decided to impose a tariff rate quota on sugar imports into the United States. Which of the following would NOT benefit from this decision?
A) soft drink producers
B) domestic sugar producers
C) sugar substitute producers
D) corn farmers
46) The U.S. government has decided to impose a tariff rate quota on sugar imports into the United States. Which of the following would benefit the most from this decision?
A) domestic candy producers
B) sugar substitute producers
C) soft drink producers
D) U.S. consumers
47) A(n) ________ is a promise by a country to limit its export of a good to another country to a pre-specified amount or percentage of the affected market.
A) tariff rate quota
B) export promise
C) voluntary export restraint
D) embargo
48) A(n) ________ is an absolute ban on the exporting and importing of goods to a particular destination.
A) voluntary export restraint
B) embargo
C) ad valorem tariff
D) tariff rate quota
49) Country Q is run by a dictator, and Country X wants to use a nontariff barrier to discipline Country Q. Which of the following would most likely be implemented by Country X?
A) numerical export control
B) voluntary export restraint
C) regulatory control
D) embargo
50) Local purchase requirements, investment controls, and product and testing standards are all forms of ________.
A) numerical export controls
B) voluntary export restraints
C) nontariff barriers
D) embargoes
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