Question

A​ government-imposed restriction on the quantity of a specific good that another country is allowed to sell in the U.S. is A. a voluntary import expansion. B. an import quota. C. a regional trade bloc. D. a voluntary restraint agreement

Answer 1

Answer: B. an import quota

Explanation:

An import quota is known to be a form of trade restriction which the government of a country imposes on a particular good from another country. The government place or put a limit on the number of imported goods which can be imported into the country over a specified period of time. Thus, the government imposes this in order to encourage local production of goods and services by making the prices of imported goods high and prices of local goods low.