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.
1 answer
The correct response is:
It bans all importation of foreign goods.
An embargo is a complete ban on trade with a particular country or the exchange of specific goods, while a tariff involves the taxation of imported goods, which does not necessarily stop their importation.
