Global trade
Quiz by Alaa Fawzy
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8 questions
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- Q1What is a tariff?A tax on items within a stateA tax on items entering or leaving a countryA tax on items within a countryA tax on items within a city30s
- Q2Who collects import duties in the United States?Central Intelligence AgencyInternal Revenue ServiceS. Customs and Border ProtectionFederal Bureau of Investigation30s
- Q3What percentage of U.S. import duties did the U.S. collect last year?1.4%20%5%10%30s
- Q4Which item is taxed at around 11% as an import to the United States?WatchesiPhonesUmbrellasShoes30s
- Q5What is the main purpose of tariffs?To raise money and protect domestic industriesTo encourage foreign trade and investmentTo reduce government spending and debtsTo lower prices and increase competition30s
- Q6Which country is President Trump particularly focused on reducing the trade deficit with?ChinaMexicoCanadaIndia30s
- Q7Who is likely to pay for the increase in cost due to tariffs?GovernmentForeign countriesConsumersBusinesses30s
- Q8According to most economists surveyed, what is the expected impact of import tariffs on the U.S. economy?Equal harm and goodNo impactMore harm than goodMore good than harm30s