Differentiate import quotas and voluntary export restraints, Microeconomics

Differentiate import quotas and voluntary export restraints

A key difference between import quotas and voluntary export restraints (VERs) is that the:

a)domestic government administers the former, whereas the foreign government administers the latter.
b)foreign government administers the former, whereas the domestic government administers the latter.
3)one is a tax, whereas the other is a quantity limit.
4)one raises the price of the imported product involved, whereas the other one does not.

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Microeconomics: Differentiate import quotas and voluntary export restraints

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Microeconomics: Differentiate import quotas and voluntary export restraints

Reference No:- TGS061452

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: Differentiate import quotas and voluntary export restraints

Reference No:- TGS061452

Recent Questions Asked Microeconomics

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