Asked by Naioby Davis on Jul 18, 2024
Verified
An import quota taxes an import but does not set a limit on how much may be imported.
Import Quota
A limit set by a government on the quantity or value of certain goods that can be imported into a country over a specified time period.
Taxes
Compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
- Grasp essential tax principles and their role in provisioning for government actions.
Verified Answer
LS
Lichael SibalJul 21, 2024
Final Answer :
False
Explanation :
An import quota does set a limit on how much may be imported. The quota specifies a maximum quantity or value of a particular good that can be imported during a specified period of time.
Learning Objectives
- Grasp essential tax principles and their role in provisioning for government actions.
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