A quota that allows a specified quantity of a good to enter a country at a reduced tariff rate while all other amounts are subject to a high rate is referred to as:

Question

Quizplus · Accepted Answer

The description provided matches the definition of a tariff-rate quota, in which a certain amount of a good is allowed to enter a country at a reduced tariff while any additional amount is subject to a higher tariff rate. An absolute quota, by contrast, would allow only a certain quantity of a good to enter a country regardless of tariff rate, and a quota-rate tariff is not a commonly used trade policy term. A large-country tariff does not relate directly to the concept described in the question.

A Quota That Allows a Specified Quantity of a Good