Question

The United States allows a certain amount of foreign cheese into the country each year. Which of the following is this an example of?

A. embargo
B. import quota
C. protectionism
D. voluntary trade restriction

Answer 1

The United States allowing a certain amount of foreign cheese into the country each year would be an example of an "import quota," which itself falls under the umbrella category of protectionism, since it is "protecting" US domestic interests.