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.
It bans all importation of foreign goods.
Why is a federal system of government more complex than a unitary system?
(1 point)
Responses
Power is divided into many levels.
Power is divided into many levels.
The people get to make laws for the country.
The people get to make laws for the country.
Decisions are made by a group of people rather than one person.
Decisions are made by a group of people rather than one person.
Laws are made for the entire country.
An embargo differs from a tariff in that it bans all importation of foreign goods.
The correct answer is:
- It bans all importation of foreign goods.
To understand why an embargo differs from a tariff, it's important to know the definitions of both terms.
- An embargo is a government-imposed ban on trade or commercial activity with a particular country or countries. It prohibits the importation or exportation of goods and services with the targeted country or countries.
- On the other hand, a tariff is a tax or duty imposed on goods that are imported or exported. It can be used to protect domestic industries or regulate trade.
Therefore, an embargo goes beyond a tariff by completely prohibiting the importation of foreign goods, whereas a tariff imposes taxes on foreign goods but still allows their importation.