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A Voluntary Export Restraint Is an Agreement Negotiated Between Two

question 99

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A voluntary export restraint is an agreement negotiated between two countries that places a numerical limit on the quantity of a good that can be imported by one country from the other country.


Definitions:

Repayment Of Principal

The process of paying back the original amount borrowed in a loan, separate from interest payments.

Equal Installments

A method of loan repayment where the borrower pays the lender a constant amount of money periodically, covering both principle and interest.

Repay

The action of paying back borrowed money to the lender.

Compounded Annually

Describes the method where the interest earned in one period is added to the principal sum, and the total becomes the basis for calculating interest in the next period, done once a year.

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