Suppose that a simple economy produces only the following four goods and services: shoes, hamburgers, shirts and cotton. Further, assume that all the cotton is used in the production of shirts. PRODUCTION AND PRICE STATISTICS FOR 2015 Product Quantity Price Shoes Hamburgers S65,00 3.00 125 The Nominal GDP 110 for the year 2015 is $ Shirts 60 30 00 Cotton 7.000 0.75 are goods and services produced domestically but sold to other countries. O Tarifts O Exports O Quotas O Imports are goods and services bought domestically but produced in other countries. are taxes imposed by a government on imports of a good into a country. 10) Which of the following are non-tariff barriers to trade? National security grounds. Health and safety requirements. Embargoes. All of the above. 0000