A voluntary export restraint is an agreement signed willingly between the importing country and the exporting country for a restriction on the
A) overall tax.
B) number of businesses eligible for imports.
C) volume of exports.
D) government's portion of the paid tariff.
E) balance-of-payments statements.

Question

Quizplus · Accepted Answer

A voluntary export restraint (VER) is an agreement between an exporting country and an importing country where the exporting country agrees to limit the quantity of goods exported to the importing country. This is done to avoid more severe trade restrictions or tariffs that the importing country might impose.

A Voluntary Export Restraint Is an Agreement Signed Willingly Between