A maximum limit set on the amount of a specific good that may be imported into a country over a given period of time is called a:

A. Tariff
B. Quota
C. Nontariff barrier
D. Voluntary export restriction

B. Quota

Economics

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Symmetric shocks pose fewer problems for nations linked by fixed exchange rates to a base currency. In general:

A) because there are common problems, the economic policy taken by the base currency nation is beneficial for both nations. B) it gives the nation maintaining the peg more autonomy to deal with financial crises. C) the base currency nation can just do nothing, and the issue will resolve itself. D) when there are symmetric shocks, the home nation unlinks its exchange rate from the base currency nation.

Economics

The aggregate production function describes the relationship between

A) real GDP and the quantity of labor employed. B) real GDP and the price level. C) the rate of growth of real GDP and inflation. D) real GDP and the unemployment rate.

Economics