restriction placed on the amount of a product allowed to enter or leave a country is referred to as a
A) quota.
B) tariff.
C) GATT tax.
D) subsidy.
E) excise tax.

Question

Quizplus · Accepted Answer

A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a quota. Tariffs are taxes on imported or exported goods, GATT (General Agreement on Tariffs and Trade) was an international agreement aimed at reducing trade barriers, subsidies are financial assistance given by the government to businesses or individuals, and excise taxes are taxes on specific goods, such as alcohol or tobacco. Therefore, the correct choice is A, quota.

Restriction Placed on the Amount of a Product Allowed to Enter