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11 July, 01:33

The primary difference between a quota and a voluntary export restraint (VER) is that

A. the quota is unilaterally imposed by one nation on the other while the VER is the result of negotiations between nations.

B. the VER is unilaterally imposed by one nation on the other while the quota is the result of negotiations between nations.

C. the quota directly limits imports while the VER only indirectly influences the quantity traded between the nations.

D. the VER affects import price while the quota works through quantity restrictions and does not influence the price of the good.

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  1. 11 July, 02:56
    0
    The correct answer is option A.

    Explanation:

    A quota is a non-tariff restrictive barrier which is imposed unilaterally by the importing country. While, on the other hand, a voluntary export restraint is self-imposed by the exporting country. Though it is generally a result of negotiations between importing and exporting countries.

    Both of these measures are adopted to protect the domestic producers in the importing country.
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Home » Business » The primary difference between a quota and a voluntary export restraint (VER) is that A. the quota is unilaterally imposed by one nation on the other while the VER is the result of negotiations between nations. B.
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