Which of the following is one way in which an embargo differs from a tariff?
(1 point)
Responses
It allows for free trade of goods.
It allows for free trade of goods.
It limits the taxes placed on foreign goods.
It limits the taxes placed on foreign goods.
It bans all importation of foreign goods.
It bans all importation of foreign goods.
It increases the price of foreign goods.
It increases the price of foreign goods.
1 answer
The correct response is:
It bans all importation of foreign goods.
An embargo is a complete prohibition on trade with a specific country or the exchange of specific products, while a tariff imposes a tax on imported goods but does not necessarily prohibit them.
1 answer
1 answer
1 answer
1 answer