Briefly define the optimal tariff rate-terms of trade effect

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Reference no: EM13796854

Briefly define the following terms.

a) Tariff escalation

b) Optimal tariff rate

c) Ad valorem tariff equivalent

d) Voluntary export restraint (VER)

e) Terms of trade effect (of subsidy)

f) Harmonized System (HS) of commodity Classification

g) Common external tariff

h) Dumping

i) Quota Rent

j) Offspring

k) Offshore outsourcing

Reference no: EM13796854

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