When a Glove Manufacturer in China Is Allowed to Sell

question 101

Multiple Choice

When a glove manufacturer in China is allowed to sell only a certain number of plastic gloves to Japan, that firm is facing a(n)

• A) tariff.
• B) embargo.
• C) restrictive product standard.
• D) quota.
• E) balance of trade restriction.

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Definitions:

Unequal Distribution Of Income

A situation where income is not distributed evenly among the population, leading to disparities in wealth and living standards.

Differences In Work Preferences

Differences in work preferences refer to the variation among individuals in terms of the type of work, work environment, hours, and conditions they find most satisfying or acceptable.

Income Distribution

Refers to the way in which total income is shared among the population or different groups within a society.

Income Mobility

The ability of individuals or households to move up or down the income distribution over a period of time.