A Key Difference Between Import Quotas and Voluntary Export Restraints

question 110

Multiple Choice

A key difference between import quotas and voluntary export restraints (VERs) is that the

• A) domestic government administers the former, whereas the foreign government administers the latter.
• B) foreign government administers the former, whereas the domestic government administers the latter.
• C) one is a tax, whereas the other is a quantity limit.
• D) one raises the price of the imported product involved, whereas the other one does not.

---

Definitions:

Job And Family

The relationship and balance between one's professional responsibilities and family life.

Grievance Procedure

Formal process of filing a complaint and resolving a dispute within an organization

Final Step

The last action or stage in a process, necessary to complete or finalize the task at hand.

Arbitration

A method of alternative dispute resolution where a neutral third party makes a binding decision to resolve a dispute between parties.