A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?
Correct answer: C. import quota
- A. domestic subsidy
- B. export subsidy
- C. import quota
- D. export quota
Explanation
An import quota is a government-set maximum quantity of a foreign-produced good allowed into the country during a given period. An export quota instead limits goods sent out of the country.
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