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Question
In the past, Canada has agreed to set an upper limit on the total amount of softwood lumber exported to the United States. This is an example of a(n)
a. import quota.
b. export subsidy.
c. voluntary quota.
d. protective tariff.
e. revenue tariff.
Answer
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Related questions
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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