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Voluntary export restraint is ________.
- a)Tariff barrier
- b)Non- tariff barrier
- c)Both tariff and non- tariff barrier
- d)Not a trade barrier
Correct answer is option 'B'. Can you explain this answer?
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Voluntary export restraint is ________.a)Tariff barrierb)Non- tariff b...
Voluntary export restraint (VER) is a non-tariff barrier that is used by a country to limit the amount of goods that are exported to another country, usually in response to trade pressure from the importing country. This can be done through an agreement between the exporting and importing countries, where the exporting country agrees to limit its exports to a certain level, often through a quota system.
VERs are often used to protect domestic industries from foreign competition, and they can have both positive and negative effects. On the positive side, VERs can help to protect jobs in industries that might otherwise be threatened by imports. They can also help to reduce political pressure on governments to impose more restrictive trade measures, such as tariffs or quotas.
However, VERs can also have negative effects. They can lead to higher prices for consumers, as domestic producers are able to charge more for their products due to reduced competition. They can also lead to inefficiencies in the economy, as resources are directed towards less efficient domestic industries rather than more efficient foreign ones.
In general, VERs are seen as a less damaging trade barrier than tariffs, as they do not involve the direct imposition of taxes on imported goods. However, they can still have significant impacts on trade flows and economic outcomes.
VERs are often used to protect domestic industries from foreign competition, and they can have both positive and negative effects. On the positive side, VERs can help to protect jobs in industries that might otherwise be threatened by imports. They can also help to reduce political pressure on governments to impose more restrictive trade measures, such as tariffs or quotas.
However, VERs can also have negative effects. They can lead to higher prices for consumers, as domestic producers are able to charge more for their products due to reduced competition. They can also lead to inefficiencies in the economy, as resources are directed towards less efficient domestic industries rather than more efficient foreign ones.
In general, VERs are seen as a less damaging trade barrier than tariffs, as they do not involve the direct imposition of taxes on imported goods. However, they can still have significant impacts on trade flows and economic outcomes.
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Voluntary export restraint is ________.a)Tariff barrierb)Non- tariff b...
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Voluntary export restraint is ________.a)Tariff barrierb)Non- tariff barrierc)Both tariff and non- tariff barrierd)Not a trade barrierCorrect answer is option 'B'. Can you explain this answer?
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