The International Economy And Globalization
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- The International Economy And Globalizationeconomics-mcqs › the-international-economy-and-globalization
- Published
- 27 May 2019
- Last updated
- 28 May 2026
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In the context of international trade, what does the term 'tariff' mean?
Multiple choice question for The International Economy And Globalization. Select an option, then review the explanation below.
Explanation
Option A refers to the price of goods leaving the producing country, not a tariff. Option B describes a quota, which limits import quantities. Option C correctly defines a tariff as a tax on imported goods. Option D is about subsidies, which are government payments to boost exports.
More The International Economy And Globalization MCQs
Practice related questions from the same subject.
- 1.In which type of goods do Less Developed Countries (LDCs) typically hold a comparative advantage?
- 2.Why did output decline drastically in the economies undergoing transition?
- 3.When products are sold abroad at prices below the marginal cost of production and the marginal benefit to local consumers, which policy is most likely supporting this situation?
- 4.How do tariffs affect the production levels of domestic companies and the consumption habits of consumers?
- 5.The equilibrium exchange rate adjusts to neutralize disparities in which of the following international economic factors?