An import quota specifies the
A) minimum quantity of a good that must be exported during a specified time period.
B) maximum quantity of a good that may be imported during a specified time period.
C) highest price that can be charged for an imported good.
D) per unit tax that must be paid on an imported good.

Question

Quizplus · Accepted Answer

An import quota specifies the maximum quantity of a good that may be imported during a specified time period. This is often used as a trade restriction to protect domestic industries from foreign competition.

An Import Quota Specifies the