Asked by Jamie Crique on May 30, 2024
Verified
A maximum limit set on the amount of a specific good that may be imported into a country over a given period of time is called a
A) tariff.
B) quota.
C) nontariff barrier.
D) voluntary export restriction.
Import
These are goods or services brought into one country from another for sale or use.
Quota
A government-imposed trade restriction limiting the number or value of goods that can be imported or exported during a specific time.
Period of Time
A specific duration or interval at which certain events or observations are measured or occur.
- Identify the impact of tariffs, quotas, and non-tariff barriers on global trade.
Verified Answer
ED
Emily DammeyerJun 02, 2024
Final Answer :
B
Explanation :
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.
Learning Objectives
- Identify the impact of tariffs, quotas, and non-tariff barriers on global trade.