A Voluntary Export Restraint Refers to a Quota That a Nation

question 26

True/False

A voluntary export restraint refers to a quota that a nation imposes on its exports,usually at the request of another nation.

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Definitions:

Concentrated Industry

An industry characterized by a few firms controlling a large market share, leading to reduced competition.

Relatively Small

A comparative term indicating that something is smaller in size, amount, or degree when compared to others in a similar context.

Number of Firms

This refers to the total count of businesses operating within a specific market or industry.

U.S. Cigarette Industry

The industry comprising companies operating within the United States that manufacture, distribute, and sell cigarettes and related products.