1. A limit imposed by the government on the quantity of a good or product that can be brought into the
country is called a
a. tariff
b. quota
c. foreign bill of exchange
I
d. value added tax
2. Which of the following would not be an effective argument for the U.S. to enact trade restrictions?
Oa
a. they shield U. S. workers from competition by cheap foreign labor
b. they may benefit the security and defense of the nation
c. they help the U.S. maintain diverse industries
Od. they make foreign products cheaper to U.S. shoppers
3. What does it mean if a country is on the gold standard?
O
a. it sets the value of its currency in relation to a specific amount of gold
b. it creates specific standards by which gold is made into jewelry
c. it uses gold instead of paper currency
d. none of these
LICAL
jorgo lovel of income is less