A quota is a specified maximum amount that can be imported. It is a restriction on the quantity of goods that can be imported into a country. It is often set by the government to protect domestic industries from foreign competition, by limiting the amount of foreign goods that can be imported.

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A Quota Is

Question 98

Multiple Choice

A quota is

A) a specified maximum amount that can be imported.
B) a specified minimum amount that must be imported.
C) the minimum amount that domestic firms can dump.
D) a tax on imports.
E) a tariff on exports.

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