AP Macroeconomics

Category - Macroeconomics

What is the correct term for the restriction of exports destined for sale in another country?
  1. Tariff
  2. Embargo
  3. Trade deficit
  4. Fixed exchange
Explanation
Answer - B - An embargo is the restriction of exports destined for sale in another country.

Key Takeaway: An embargo is the prohibition of trade or restriction of exports with a particular country in order to isolate a particular economy. Embargoes are typically used as a diplomatic effort to gain a specific political or economic outcome on which they are posed. Embargoes are considered to be completely legal and should not be confused with blockades.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz