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on Nov 16, 2024Verified
An import quota imposed by the U.S. would reduce U.S. imports, but have no impact on U.S. exports.
Import Quota
A government-imposed limit on the quantity or value of goods that can be imported into a country.
U.S. Imports
Goods and services purchased by residents of the United States from foreign firms and brought into the U.S.
U.S. Exports
Goods, services, and capital sent from the United States to other countries.
- Assess the enduring impacts of trade policies, such as import quotas, on net exports and economic measurements.
Verified Answer
LS
Learning Objectives
- Assess the enduring impacts of trade policies, such as import quotas, on net exports and economic measurements.