The Best Example of a Quota from the List Below

question 68

Multiple Choice

The best example of a quota from the list below is __________.

• A) a subsidy from the 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 per cent 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:

Crystal Ball

In forecasting and predictive analysis, a tool or method that allows for the estimation of future conditions or occurrences.

Tornado Charts

A graphical method used in sensitivity analysis to show the effect of varying different parameters on a particular outcome.

Monte Carlo Simulation

A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problem-solving.

Correlation Coefficients

Statistical measures that quantify the strength and direction of the linear relationship between two variables, ranging from -1 (perfect negative correlation) to 1 (perfect positive correlation).