A tariff-rate quota is essentially a ?
Correct answer: A. two tier tariff applied to a country's imports
- A. two tier tariff applied to a country's imports
- B. three-tier tariff applied to a country's imports
- C. two tier quota applied to a county's exports
- D. three tier quota applied to a country's exports
Explanation
A tariff-rate quota applies a low tariff up to a specified import quantity and a higher tariff to imports beyond that quantity. It is therefore a two-tier tariff system.
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