A Common Hybrid of a Quota and a Tariff Is

question 74

Multiple Choice

A common hybrid of a quota and a tariff is known as a(n) :

• A) import tariff quota.
• B) voluntary export restraint.
• C) ad valorem tariff.
• D) tariff rate quota.

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Definitions:

Capitalist Economy

An economic system based on private ownership of the means of production and the creation of goods or services for profit.

Regulation

The establishment of rules by government or other authorities to control or govern conduct within a specific area.

Substantial

Of considerable importance, size, or worth; a term indicating something that is large enough in magnitude or number to merit attention.

Industrialization

The transformation from agrarian societies to industrial economies, characterized by the development of manufacturing, technological advancement, and urban growth.