The U.S.restricts the import of peanuts to a maximum of 1.7 million pounds per year to protect the price that domestic producers can charge.This is an example of a(n)________.
A) import subsidy
B) embargo
C) import quota
D) import tariff
E) restrictive import standard

Question

Quizplus · Accepted Answer

A)Import quotas limit the amount of particular goods that countries allow to be imported during a given year. In the given case, an import quota is used.
B)Import quotas limit the amount of particular goods that countries allow to be imported during a given year. In the given case, an import quota is used.
C)Import quotas limit the amount of particular goods that countries allow to be imported during a given year. In the given case, an import quota is used.
D)Import quotas limit the amount of particular goods that countries allow to be imported during a given year. In the given case, an import quota is used.
E)Import quotas limit the amount of particular goods that countries allow to be imported during a given year. In the given case, an import quota is used.

The USRestricts the Import of Peanuts to a Maximum of 1