Answered: An outright ban on the export of a…

An outright ban on the export of a commodity to a particular country is known as: A. Trade Deficit B. Trade Surplus C. Import Tariff D. Import Quota E. Embargo F. Export Subsidy

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

An outright ban on the export of a commodity to a particular country is known as:

A. Trade Deficit

B. Trade Surplus

C. Import Tariff

D. Import Quota

E. Embargo

F. Export Subsidy

Definition Definition Situation in which a country spends more on imports than it makes through exports. When a trade deficit exists, net exports will be negative. Trade Deficit = (Imports) - (Exports)

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