Voluntary Restraint Agreements Are

question 187

Multiple Choice

Voluntary restraint agreements are

• A) a type of tariff in which the tax is a fixed amount per unit of good imported.
• B) a type of tariff in which the tax is based on the value of the good.
• C) a type of quota that actually benefits the firms facing the restrictions.
• D) a type of quota agreed to "voluntarily" in order to prevent more severe protection of another type.

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Definitions:

Permanent

Lasting or intended to last or remain unchanged indefinitely.

Temporary

Something not lasting or permanent, intended to last only for a limited period of time.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, primarily the elderly, disabled, and families with dependent children.

Major Life Transition

Describes significant life changes or events that require substantial adjustment, such as marriage, parenthood, or retirement.