The Multi-Fiber Agreement (MFA)of 1974 Fixed Upper Limits on Exports

question 149

Multiple Choice

The Multi-Fiber Agreement (MFA) of 1974 fixed upper limits on exports of textiles from all major exporting countries to all major importing countries.The MFA is an example of:

• A)voluntary export restraint.
• B)local content requirement.
• C)subsidy.
• D)specific tariff.

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Definitions:

Commission

Compensation or financial incentive for salespeople based on a fixed percentage of their sales.

Institutional Buyer

Organizations, such as companies, governments, or schools, that purchase goods or services in large quantities, often for internal use or resale.

Boston College

A private Jesuit research university located in Chestnut Hill, Massachusetts, known for its academic rigor and community engagement.

U.S. Marine Corps

A branch of the United States Armed Forces responsible for providing power projection, using the mobility of the United States Navy to rapidly deliver combined-arms task forces.