
In the United States, the only firms allowed to import cheese are certain trading companies, each of which is allocated the right to import a maximum number of pounds of cheese each year. This is an example of
A) a subsidy.
B) an import quota.
C) a local content requirement.
D) an ad valorem tariff.
Correct Answer:
Verified
Q21: To conform to local content regulations, a
Q22: A _ helps domestic producers to compete
Q23: Tariffs do not benefit
A) consumers.
B) domestic producers.
C)
Q24: Which of the following is one of
Q25: What term refers to a situation in
Q27: _ a requirement that some specific fraction
Q28: Antidumping duties are often called
A) special circumstance
Q29: Import tariffs
A) reduce the price of foreign
Q30: If a domestic industry lacks the capacity
Q31: The extra profit that producers make when
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