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.

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Definitions:

Chondrocytes

Specialized cells found within cartilage that produce and maintain the cartilaginous matrix.

Fibrocartilage

A type of cartilage with a dense collagen fiber matrix, providing sturdy support and resisting pressure.

Transmitting Electrical Impulses

The process by which neurons send information through the nervous system using changes in electrical potentials.

Nervous Tissue

A type of tissue composed of neurons and glial cells that transmits electrical signals across the body to control functions and process information.