In the context of foreign trade, quotas are best described as: A. government payments to firms that export goods. B. taxes on imported goods collected by the government. C. limits on the amounts of imports a country allows over some period.
Quotas are limits on the amounts of imports allowed into a country in a period of time. Government payments to firms that export goods are known as export subsidies. Taxes on imported goods collected by the government are known as tariffs.
