Agreements whereby exporting nations limit the amounts of goods that they ship to importing nations are known as:

Question

Quizplus · Accepted Answer

The term that describes the agreement whereby exporting nations limit the amounts of goods that they ship to importing nations is a voluntary export restraint (VER). Therefore, option C is the correct answer. A negotiated tariff (option A) is a fee on imports or exports that is set through direct negotiation between the importing and exporting countries. A quota (option B) is a limit on the quantity of a product that may be imported or exported. "Limiting restraint" (option D) is not a term used in international trade agreements.

Agreements Whereby Exporting Nations Limit the Amounts of Goods That