Import quotas
A)are the same as tariffs.
B)are not used by Canada.
C)set the minimum percentage of the value of a product that must consist of imported components.
D)benefit society.
E)set the maximum number of units of a good that can be imported in a given time period.

Question

Quizplus · Accepted Answer

Import quotas set the maximum number of units of a good that can be imported in a given time period. They are different from tariffs and can be used by countries, including Canada, to restrict imports and protect domestic industries. Whether or not they benefit society is a topic of debate.

Import Quotas