Rice imports to a nation under a quota limit of 8,500 tons are charged a tariff of 15 percent.Imports of rice above the quota limit are charged a tariff of 60 percent.This is an example of a(n)________.

Question

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This is an example of a tariff-quota, where imports below a certain quota limit are subjected to a lower tariff rate, and imports above that limit are subjected to a higher tariff rate.

Rice Imports to a Nation Under a Quota Limit of 8,500