A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as

Question

Quizplus · Accepted Answer

The specification described in the question is that of an import quota, which limits the amount of foreign-produced goods that can be imported into a country over a given period of time. A domestic subsidy would involve the government giving financial support to domestic producers to help them compete with foreign producers, while an export subsidy would involve the government providing financial incentives for domestic producers to increase their exports. An export quota, on the other hand, limits the amount of domestic products that can be exported to foreign markets.

A Specification of a Maximum Amount of a Foreign Produced