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20 Cards in this Set
- Front
- Back
National economic policies designed to restrict free trade and protect domestic industries from foreign competition
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Protectionism
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A tax imposed on imported products, effectively increasing the cost of acquistition for the customer
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Tariff
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A government policy, regulation, or procedure that impedes trade through means other than explicit tariffs
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Nontariff trade barrier
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checkpoints at the ports of entry in each country where government officials inspect imported products and levy tariff
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Customs
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A quantitative restriction placed on imports of a specific product over a specified period of time
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Quota
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A government measure intended to manage or prevent the export of certain products or trade with certain countries
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Export control
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taxes on products exported by their own companies
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export tariffs
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a tax levied on imported products
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import tarriffs
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tarriff assessed as a percentage of the value of the imported product
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ad valorem
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a flat fee or fixed amount per unit of the imported product
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specific tariff
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intended to raise money for the government
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revenue tariff
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aims to protect domestic industires from foreign competition
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protective tariff
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tariff so high that no one can import any of the items
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prohibitive tariff
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government authorization granted to a firm for imporation of a product
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import license
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restrictions on the outflow of hard currency from a country, or the inflow foreign currencies
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Curreny control
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Monetary or other resources a government grants to a firm or group of firms, usually intended to ensure their survival by facilitating the production and marketing of productss at reduced prices or to encourage exports
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Subsidy
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A duty imposed on products imported into a country to offset subsidies given to producers or exporters in the exporting country
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Countervailing duty
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Pricing exported products at less than their normal value, generally for less than their price in the domestic or third country markets, or at less than production cost.
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Dumping
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a tax imposed on products deemed to be dumped and causing injury to producers of competing products in the importing country
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antidumping duty
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Transfer payment or tax concession made directly to foreign firms to entice them to invest in the country
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Investment incentive
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