Asked by Yokasta C. Estrella Lucas on Jun 13, 2024
Verified
An example of an import quota is a:
A) limit on the total number of Honda automobiles imported from Japan.
B) regulation specifying that each imported Honda automobile must meet certain emission exhaust guidelines.
C) tax of 10% of the value of each Honda automobile imported from Japan.
D) subsidy from the Japanese government of $500 for each Honda automobile imported into the United States.
Import Quota
A government-imposed limit on the quantity of a specific good that can be imported into a country.
Honda Automobiles
A reference to the range of vehicles manufactured by the Honda Motor Company, a multinational automotive manufacturer.
Emission Exhaust
The release of gases or other pollutants into the air from internal combustion engines or other sources.
- Compare and contrast tariffs and import quotas in terms of their influence on government revenue, rents derived from quotas, and the prices in the market.
Verified Answer
MR
Mohamed RafahJun 17, 2024
Final Answer :
A
Explanation :
An import quota is a limit on the quantity of a particular good that can be imported into a country. In this case, the import quota is a limit on the total number of Honda automobiles that can be imported from Japan.
Learning Objectives
- Compare and contrast tariffs and import quotas in terms of their influence on government revenue, rents derived from quotas, and the prices in the market.