An import quota protects domestic producers by
A) increasing the total supply of the product.
B) encouraging competition among domestic producers.
C) placing a prohibitive tax on imports.
D) setting a limit on the amount of imports.
Correct Answer:
Verified
Q55: The Smoot-Hawley Act introduced
A) opportunities for expanding
Q66: A tariff is
A) a government imposed limit
Q76: Q77: specifies the maximum amount of a good Q78: Since the early 1930s, the average tariff Q80: The current U.S. average tariff rate Q82: A key difference between tariffs and quotas Q83: The effect of an import quota is Q84: An import quota specifies the Q85: Import quotas _ the price of imported
A) over
A) maximum quantity
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