Restrictive product standards are ________.
A) tariffs
B) excise duties
C) quotas
D) nontariff trade barriers
E) exchange controls

Question

Quizplus · Accepted Answer

Restrictive product standards are a type of nontariff trade barrier, which are regulations or requirements on products that make it harder for foreign goods to enter a domestic market. Tariffs (A) are taxes on imported goods, excise duties (B) are taxes on specific types of goods, quotas (C) are restrictions on the quantity of a specific product that can be imported/exported, and exchange controls (E) are government restrictions on the buying and selling of foreign currency.

Restrictive Product Standards Are ________