The UK Wishes to Import No More Than 100 Million

question 60

Multiple Choice

The UK wishes to import no more than 100 million tons of sugar from India in any given year.The type of import restriction it should impose is a(n)

• A) import duty.
• B) foreign exchange control.
• C) import quota.
• D) embargo.
• E) export duty.

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Definitions:

Subrogation

The right of the insurer upon payment to take over the rights of the insured in relation to whoever caused the injury.

Guarantor

A person assuming obligation to pay if the debtor does not.

Real Property

Land, buildings attached to the land, and items called fixtures, that is, items that are attached to the land or to a building or to another fixture attached to the land.

Personal Property

Tangible, movable goods (chattels) and intangible claims (choses in action).