Quiz: Tariffs & Trade - Civic Genius

What is a tariff?*

A tax on exports of domestic goods
A tax on imports of foreign goods
A limit on the number of foreign goods entering a country
Special customs requirements for imports of foreign goods

According to the Constitution, who has the power to establish tariffs?*

The Congress
The President
The President with consent of Congress
The U.S. Department of Commerce

When was the first set of tariffs imposed?*

1789
1816
1914
1929

What is the name for the policy of shielding domestic industries against foreign competition through tariffs, quotas, and other restrictions on imports?*

Nationalism
Protectionism
Anti-Globalization
Trade Restriction

What was the nickname the South gave the Tariff of 1828 because of its impact on the Southern economy?*

The Yankee Tariff
The Tea Party Tariff
The Tariff of Secession
The Tariff of Abominations

What was the name of the tariff that many economists blame for worsening the Great Depression?*

America First Tariff Act
Fordney-McCumber Tariff
Smoot-Hawley Tariff
Payne-Aldrich Tariff

Since 1970, the U.S. tariff rate has remained at approximately what percent?*

5 percent
7 percent
10 percent
12 percent

What risk does a nation face when imposing tariffs?*

Less competitive domestic industries
Increased prices for consumers
Retaliation from trading partners
All of the above

With how many countries does the U.S. have free trade agreements?*

8
14
20
33

Where does the U.S rank on the list of the world’s largest exporters?*

First
Second
Third
Fourth

Sign Up