Import quotas
A) are the same as tariffs.
B) are not used by the United States.
C) set the maximum number of units of a good that can be imported.
D) set the minimum percentage of the value of a product that must consist of imported components.

Question

Quizplus · Accepted Answer

Import quotas set a numerical limit on the amount of a particular good that can be imported into a country. Tariffs, on the other hand, are taxes on imported goods. The United States does use import quotas, particularly for certain agricultural products.

Import Quotas