As producers of sophisticated military hardware, companies like Boeing and General Dynamics are restricted from exporting to nations such as Cuba and North Korea. This situation is an example of a(n) _____.
A) embargo
B) nontariff trade barrier
C) tariff
D) voluntary export restraint

Question

Quizplus · Accepted Answer

An embargo is a government-imposed restriction on trade for political purposes. In this case, the US government has imposed an embargo on nations like Cuba and North Korea, preventing companies like Boeing and General Dynamics from exporting military hardware to these countries. This is done for national security reasons and to prevent the countries from using the advanced military technology against the US or its allies.

As Producers of Sophisticated Military Hardware, Companies Like Boeing and General