Government Intervention
Political Arguements
Definitions
Miscellaneous
Acts, Policies, and Organizations
100
A tax levied on imports?
What is a tariff
100

Most common Political Argument for government Intervention in Trade Policy?

What is Protecting Jobs / Protectionism ... protecting businesses, etc.

100
A government does not attempt to restrict can buy or sell from other countries?
What is Free Trade
100

What are the two benefits of Voluntary Export Restraints?

What is benefit domestic products & raise the prices of imported goods.

100

This act allows Americans to sue foreign firms that use property in Cuba confiscated from them after the 1959 revolution

What is Helms-Burton Act

200
What are the two types of tariffs?
What is Specific & Ad Valorem
200
What can be given to countries we want to build strong relationships with?
What is Preferred Trade terms
200
Levied as a proportion of the value of the imported good?
What is Ad Valorem Tariffs
200

When did Protectionist Trends Emerge?

What is the Mid-Great Depression OR the Reagan Era:1980s-1990s...

200

What are the two sister organizations of the WTO?

What is TRIPS & GATS

300
A government payment to domestic produces is a...?
What is a subsidy
300

What idea was the basis for giving China MFN status?

What is improving labor standards / protecting Human Rights

300
Selling goods in another country at below cost or under fair market value?
What is Dumping
300

What are the two main arguments for government intervention in the market?

What is regulating consumer spending / fighting inflation... OR regulating certain good on policy preferences (political / economic grounds)

300

This Act was aimed at avoiding rising unemployment by protecting domestic industries and diverting consumer demand away from foreign products.

What is Smoot-Hawley Act

400
A direct restriction on the quality of some goods that are imported from other countries?
What is an Import Quota
400
What is the idea an industry should be protected until it can develop?
What is Infant Industry Argument
400

Bureaucratic rules such as customs, procedures, and standards meant to make it difficult to import into a country?

What are Administrative Trade Policies

400
As of 2011, how many members were in the WTO ( World Trade Organization)
What is 153
400

Name two of the WTOs main objectives

Help regulate dumping & high levels of protectionism in agriculture.. (also oversight of protection for intellectual property rights in many countries... continued high tariffs on nonagricultural goods and services in many nations..)

500

Extra profit producers make when supply is artificially limited by import quota- when a quota restricts supply, allowing them to charge a higher price than they would be able to in a free market 

What is 'Quota Rent'

500

What are two major industries important for national security discussed?

What are Aerospace and semiconductors

500
Demand that some specific part of a good is made domestically?
What is Local Content Requirements
500

There are ongoing debates surrounding regulations regarding the importation of these food products from the U.S. to the EU, reflecting concerns over consumer safety and trade standards

What are GMOs, hormone treated beef?

500

Bureaucratic rules designed to make it difficult for imports to enter a country are...

What is administrative trade policies (CUSTOMS Declarations rules, etc. -- do you have anything to declare)

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