Trade restrictions, Suppose you are examining a small open

Trade restrictions

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Reference no: EM13770193

Trade Restrictions

Suppose you are examining a small open economy with a large negative trade balance. Describe briefly the key pros and cons for this country if it decides to introduce a set of restrictions on international trade in order to achieve a situation when exports=imports. What might be the long-term implications of such restrictions? Feel free to make any reasonable assumptions, if necessary!

Reference no: EM13770193

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