With a Voluntary Export Restraint (VER), the Economic Rent Created

question 52

Multiple Choice

With a voluntary export restraint (VER) , the economic rent created for the quantitatively limited on trade is collected by:

• A)the government of the importing county.
• B)the consumers in the importing country.
• C)the producers in the importing country.
• D)the exporting firms in the foreign countries

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Definitions:

Retaliation

The act of returning an injury or wrong received from another, often seen as a form of retribution or revenge.

Aggression Bias

The tendency to perceive actions or intentions as more aggressive than they may actually be, often influenced by stereotypes or prior experiences.

Unusually Strong Need

An atypical, intense requirement or desire for something, often leading to specific behaviors or actions to fulfill that need.

Cooperativeness

The willingness to work together with others towards a common goal or benefit, often involving compromises and teamwork.