Which statement correctly describes a tariff-rate quota?

1. A Option A: It is a limit on the number of tariffs that a country can place on imports
2. B Option B: It uses a single tariff along with import quotas to restrict imports
3. C Option C: It is designed to avoid the price increases caused by simple tariffs
4. D Option D: It is a two-tier tariff system intended to restrict imports

Answer checked 11 October 2026 · How we write and check questions