When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n) ?
Correct answer: A. quota
- A. quota
- B. barrier
- C. tariff
- D. embargo
Explanation
A quota is a quantitative limit on how much of a product may be imported. A tariff raises the price of imports through a tax, while an embargo generally prohibits trade altogether.
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