Protecting Infant Industries

1.. T’Challa (aka. Black Panther) is deciding on whether to open up Wakanda technology to the world or protect the country’s Vibranium-based innovation and advanced technology from the outside world. There is huge pressure from the US-based Avengers team to make their Wakanda technology available for the US defense sector. T’Challa does not want to completely ban export completely but wants to control the flow of his technology going out of Wakanda. Which of the following trade barrier would be most appropriate for him- * A) Import Quotas B) Embargoes C Voluntary Export Restraints D) Tariffs 2.. After a few months of opening the Wakanda technology to the world, T’Challa saw that a country in the far east named Gondol, is copying their technology and making cheap but low-quality alternative products to sell in the black market. Which of the following trade barrier could be introduced for Gondol- * A) Sanctions B) Licenses C) Embargoes D) Tariffs 3.. In order to balance the trade deficit between the USA and Wakanda, Nick Fury was asked to request T’Challa to but more goods from the US – especially meat and wheat. From a secret source, T’Challa got to know that the meat produced in some of the US factories are artificially bred and genetically modified which might cause cancer in the long run. How can T’Challa ensure that the products imported from the USA will meet the quality standards of Wakanda? * A) Standardization B) Licenses C) Import Quotas D) Sanctions 4.. In March 2020 President Trump imposed tariffs on steel (25%) and aluminum (10%) from most countries President Trump raised tariffs on imports of many Wakanda goods such as consumer electronics, and weapons. Wakanda responded by placing tariffs on US agricultural exports, like meat and wheat. What was the primary reason for Wakanda imposing tariff on US goods? * A) Retaliation B) Protecting Domestic Consumers C) Protecting Infant Industries D) Protecting Domestic Employment 5.. Because of the Tariffs imposed by the US on all imported goods from Wakanda, the Avengers team is pretty pissed and let Hulk loose on the Washington state to protest the imposition of this import tariff. This tariff on the imported items from Wakanda has affected the domestic consumers the most because – * A) Domestic supplier will decrease the supply of goods B) The domestic consumers will have to pay more for the imported items from Wakanda C) Domestic supplier will increase their research and development costs to compete with Wakanda technology D) The domestic consumers have more options to choose and buy cheaper electronic goods

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