A maximum limit set on the amount of a specific good that may be imported into a country over a given period of time is called a
A. voluntary export restriction.
B. nontariff barrier.
C. quota.
D. tariff.
Answer: C
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
In the above figure, along which range would total revenue rise by lowering prices?
A) between point a and point b B) between point c and point d C) between point d and point e D) below point e
Which of the following would cause aggregate demand to shift to the right?
A. Decreased government spending B. Increased income taxes C. Decreased consumer confidence D. Decreased corporate income taxes
Considering the relevant market structures, which is an INCORRECT statement?
A) In a perfectly competitive situation, there is an extremely large number of firms. B) In pure monopoly, there is only one firm. C) In monopolistic competition, there is a large number of firms. D) In any market situation, the number of firms is not very important.