Which of the Following Is the Best Example of a Quota

question 109

Multiple Choice

Which of the following is the best example of a quota?

• A)a subsidy from the U.S. government to domestic manufacturers of tires to enable them to compete more effectively with foreign producers
• B)a limit on the quantity of tires that can be imported from a foreign country
• C)a 40% fee imposed on all imported tires
• D)a tax placed on all tires sold in the domestic market to help offset the impact of lost jobs in the domestic tire industry

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Definitions:

Leisure

The time spent away from work and essential activities, where one is free to engage in activities of choice.

Uber

A multinational ride-hailing company that offers services including peer-to-peer ridesharing, ride service hailing, and a food delivery app.

Wages

Payments made to employees for their labor or services, typically calculated on an hourly, daily, or piecework basis.

Income Effect

How a shift in income, whether for an individual or an economy, influences the amount of a good or service that is requested.