Multiple Choice
Which of the following is the best description of a quota?
A) an excise tax that is designed to place foreign producers at a competitive disadvantage in selling in domestic markets
B) a specification of the maximum amount of a product that may be imported in any period of time
C) regulations and licensing related to the quality or safety of imported products
D) agreements adopted by exporting nations to limit exports to another country
Correct Answer:
Verified
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