Equipment to agree to a voluntary export restraint agreement

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Reference no: EM132112814

To protect U.S. jobs in the agricultural equipment industry, Congress could impose a specific tariff or persuade foreign producers of agricultural equipment to agree to a voluntary export restraint agreement.

What happens to the following under each of the two policies:

i. The U.S. price of agricultural equipment

ii. The quantity of imported agricultural equipment

iii. The quality of imported agricultural equipment

Reference no: EM132112814

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