In 2002 the U. S. had a quota on 100 percent cotton and cotton ...

[Collmarie]

In 2002 the U. S. had a quota on 100 percent cotton and cotton blend jeans manufactured in China. Before the back to school season all manufacturers had reached their cotton denim quota and many of the jeans ordered by retailers were held in customs. This is an example of a tariff-rate quota.
 
  a. True
  b. False

Question 2

What occurs when the quantity demanded of a product equals the quantity supplied?
 
  What will be an ideal response?

[AISCAMPING]

Answer to Question 1

b
This is an absolute quota

Answer to Question 2

Market equilibrium occurs when the quantity demanded of a product equals the quantity
supplied.

[Collmarie]

Gracias!

[helenmarkerine]

Thanks for the timely response, appreciate it