An official agreement with another country in which it agrees to import more from the United States is
A) a regional trade bloc.
B) the quota system.
C) a voluntary import expansion.
D) a voluntary restraint agreement.

Question

Quizplus · Accepted Answer

A voluntary import expansion is an agreement where a country agrees to import more goods from another country, in this case, the United States. This is different from a voluntary restraint agreement, which involves limiting exports, or a quota system, which sets a maximum limit on imports. A regional trade bloc refers to a group of countries that have agreed to reduce or eliminate trade barriers among themselves.

An Official Agreement with Another Country in Which It Agrees