02 Feb Tax breaks, loans, and guaranteed high pr

Question 1 (2 points)

Proponents of a positive balance of trade believe it is essential to a state because it is a significant source of __________.

Question 1 options:

A) diplomacy

B) power

C) democracy

D) capitalism

Question 2 (2 points)

Applying quotas on imports is a policy that would be followed by a __________.

Question 2 options:

A) bureaucracy

B) conspirator

C) free-market capitalist

D) protectionist state

Question 3 (2 points)

The balance of trade is the value of a state’s imports relative to its __________.

Question 3 options:

A) budget balance

B) trade status

C) exchange rate

D) exports

Question 4 (2 points)

A state that avoids trading altogether and instead tries to produce everything it needs by itself is following a strategy of __________.

Question 4 options:

A) mercantilism

B) economic liberalism

C) autarky

D) comparative advantage

Question 5 (2 points)

Which policy would be followed by a protectionist state?

Question 5 options:

A) imposing tariffs

B) dumping

C) eliminating export duties

D) disallowing quotas on imports

Question 6 (2 points)

A tariff is a type of tax imposed on __________ by a state.

Question 6 options:

A) luxury goods

B) revenues

C) imports

D) exports

Question 7 (2 points)

Tax breaks, loans, and guaranteed high prices are examples of what type of protectionism?

Question 7 options:

tariffs

quotas

standards

subsidies