Question at position 8 Countries might impose a(n) __ in response to the threat of an import quota or total ban on a product by an importing nation.embargoad valorem tariffcompound tariffvoluntary export restraint

Question

Question at position 8 Countries might impose a(n) __ in response to the threat of an import quota or total ban on a product by an importing nation.embargoad valorem tariffcompound tariffvoluntary export restraint

BlackTom AI · Accepted Answer

The question asks about a policy response countries use when facing the threat of an import quota or total ban on a product by an importing nation.
Option 1: embargo. An embargo is a government order that restricts or prohibits trade with a particular country, not a mutual or preemptive restriction agreed upon by the exporting country itself in reaction to quotas or bans. So, this doesn’t fit the described reactive arrangement.
Option 2: ad valorem tariff. An ad valorem tariff is a tax imposed on imports proportional to their value, imposed by the importing country, not something the exporting country offers as a response. It does not describe a retaliatory or cooperative restraint from the exporting side.
Option 3: compound tariff. A compound tariff combines specific and ad valorem duties, still imposed by the importing country on imports. It is not a voluntary agreement by the exporter, and thus does not capture the notion of a mutual restraint that the exporting nation enacts in response to potential restrictions.
Option 4: voluntary export restraint. This is a self-imposed limit on the quantity of exports to a particular country, agreed upon by the exporting country to avoid stricter quotas or bans being imposed by the importing country. It directly describes the scenario of the exporting country voluntarily limiting shipments in response to the threat of import restrictions, aligning with the concept of VEX once a quota or ban is anticipated.
In summary, the statement that best fits the described spontaneous or negotiated restraint by the exporting nation is the voluntary export restraint, while the other options describe actions taken by the importing country or broader trade barriers rather than a mutual restraint by the exporter.

Question at position 8 Countries might impose a(n) __ in response to the threat of an import quota or total ban on a product by an importing nation.embargoad valorem tariffcompound tariffvoluntary export restraint

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