Which of the following is not an example of a trade restriction?
A) tariffs
B) quotas and voluntary export restraints
C) legislation requiring that cars sold in a country have a 50 percent domestic content
D) consumer preferences for goods produced domestically
Answer: D
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An insurance premium is a
A) payment made by an insurance company to a policyholder after the occurrence of an insurable event. B) payment made by an insurance company to a policyholder following a period in which the policyholder has filed no claims against the company. C) fee paid by policyholders to insurance companies as payment for coverage. D) fee paid by policyholders to insurance companies in exchange for special considerations, such as a particularly large policy.
When a bank makes a loan to one of its customers, to the bank the loan is classified as
A) an asset. B) a liability. C) neither an asset nor a liability. D) an asset in some cases and a liability in other cases, depending on the type of loan.