Available forms of import relief include:
A) absolute quotas.
B) auctioned quotas.
C) tariff increases (up to 50 percent).
D) domestic subsidies.
E) absolute quotas, auctioned quotas, and tariff increases (up to 50 percent).

Question

Quizplus · Accepted Answer

All three options, including absolute quotas, auctioned quotas, and tariff increases, can provide import relief. Absolute quotas limit the amount of a particular item that can be imported, while auctioned quotas allow for a set amount of the item to be imported with the quota being sold to the highest bidder. Tariff increases make imports more expensive, making domestic products more attractive. The combination of these three options can provide effective relief to domestic industries struggling to compete with imports. Domestic subsidies, on the other hand, are not a form of import relief and can be seen as unfair to foreign competitors.

Available Forms of Import Relief Include