A(n) ________ is a promise by a country to limit its export of a good to another country to a pre-specified amount or percentage of the affected market.
A) tariff rate quota
B) export promise
C) voluntary export restraint
D) embargo

Question

Quizplus · Accepted Answer

A voluntary export restraint (VER) is an agreement between exporting and importing countries where the exporting country agrees to limit the amount of goods exported to the importing country to a specified quantity or percentage of the market. This is often done to avoid more severe trade restrictions or tariffs from the importing country.

A(n) ________ Is a Promise by a Country to Limit