American Automakers Are Concerned About the Availability of So Many

question 29

Multiple Choice

American automakers are concerned about the availability of so many foreign cars to U.S. consumers, and that their chances to sell their own cars are limited. To directly correct the situation, they encourage Congress to impose a(n)

• A) export quota.
• B) export duty.
• C) import quota.
• D) tariff.
• E) import duty.

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Definitions:

Primarily Liable

The condition of being initially and directly responsible for fulfilling an obligation or debt, without shifting that responsibility to another party.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee's name mentioned.

UCC

Uniform Commercial Code; a set of laws that govern commercial transactions in the United States.

Transfer Warranty

Guarantees made by the seller about the quality and title of goods being sold, ensuring they are free from any claims and encumbrances.