Effects of tariffs differ from the effects of quotas

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Question 1: Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective?

Question 2: Who gains and who loses from a tariff? How do the effects of tariffs differ from the effects of quotas? If you were a small country, what would you rather utilize?

Reference no: EM13815937

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