A voluntary import expansion involves a
A) country agreeing to import more from another country.
B) country agreeing to reduce its trade barriers.
C) country agreeing to an import quota.
D) firm agreeing to expand output.

Question

Quizplus · Accepted Answer

A voluntary import expansion involves a country agreeing to import more from another country. Therefore, choice A is the best answer. Choice B refers to a voluntary export restraint, choice C refers to an import restriction, and choice D refers to a firm's decision to increase production, all of which are not related to a voluntary import expansion.

A Voluntary Import Expansion Involves a