16 1 point The impact of a tariff is to imports and the market price. 17 reduce; raise reduce; lower increase; raise increase; lower 1 point A limit on the quantity of a good that may be imported in a given time period is a trade restriction limit tariff quota price effect TERMS OF TRADE REFER TO negotiations made by the Minister of Trade. the rate at which goods are exchanged for one another. the ratio of imports to exports protectionist policies. 5 1 point If a country specializes in production and trades, its possibilities exceed it possibilities. consumption; production production; consumption production; standard of living consumption: monetary