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The Chinese Protected Its Automobile Industry Through Restrictive Tariffs and Quotas

question 156

Multiple Choice

The Chinese protected its automobile industry through restrictive tariffs and quotas. Which of the following BEST describes this practice?


Definitions:

Sale of Goods Transaction

A commercial activity involving the transfer of ownership of tangible personal property from a seller to a buyer for a price.

Bill of Exchange

A written, unconditional order by one party directing another party to pay a specified sum of money to a third party at a specified time.

Pay Money

The act of giving a certain amount of currency or financial value in exchange for goods or services.

Third Person

An individual who is not directly involved in a contract or legal agreement but may be affected by it.

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