An Import Quota Is a

question 94

Multiple Choice

An import quota is a

• A)legal limit on the quantity of a good that can be imported per year
• B)legal requirement that a specified percentage of a final good's value must be produced domestically
• C)legal requirement that exports to a certain country must exceed a specified value before that country's product may be imported
• D)percentage tax on an imported product
• E)lump-sum tax on an imported product

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Definitions:

Net Profit Margin Ratio

A financial ratio indicating the percentage of net income generated from total revenue.

Balance Sheet

A statement of finance that shows a corporation's assets, liabilities, and owner's equity at a specific moment.

Balance Sheet

An accounting record that outlines a business's assets, obligations, and equity of shareholders at a designated time.

Total Asset Turnover Ratio

An indicator assessing the capability of a firm to turn its assets into sales revenue efficiently.