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Global trade

Quiz by Alaa Fawzy

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8 questions
Show answers
  • Q1
    What is a tariff?
    A tax on items within a state
    A tax on items entering or leaving a country
    A tax on items within a country
    A tax on items within a city
    30s
  • Q2
    Who collects import duties in the United States?
    Central Intelligence Agency
    Internal Revenue Service
    S. Customs and Border Protection
    Federal Bureau of Investigation
    30s
  • Q3
    What percentage of U.S. import duties did the U.S. collect last year?
    1.4%
    20%
    5%
    10%
    30s
  • Q4
    Which item is taxed at around 11% as an import to the United States?
    Watches
    iPhones
    Umbrellas
    Shoes
    30s
  • Q5
    What is the main purpose of tariffs?
    To raise money and protect domestic industries
    To encourage foreign trade and investment
    To reduce government spending and debts
    To lower prices and increase competition
    30s
  • Q6
    Which country is President Trump particularly focused on reducing the trade deficit with?
    China
    Mexico
    Canada
    India
    30s
  • Q7
    Who is likely to pay for the increase in cost due to tariffs?
    Government
    Foreign countries
    Consumers
    Businesses
    30s
  • Q8
    According to most economists surveyed, what is the expected impact of import tariffs on the U.S. economy?
    Equal harm and good
    No impact
    More harm than good
    More good than harm
    30s

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