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Q. In recent cases, the U.S. placed quotas or protectionist tariffs on imported microchips and imported steel. In both cases the damage to "downstream" industries was obvious to all and relatively simple to quantify and demonstrate. Consider that the U.S. lawmakers are not plain dumb, why did they enact these protectionist policies?
Answer: The system through which these protectionist policies are set into law is biased in favour of the producers of import competitive goods. Other sectors of the economy that may possibly affect aren't parties in the petitions made to the ITC seeking redress.
Q. Albania refused to engage in international trade for ideological reasons. To maximize its economic welfare it could choose to produce at which point in the diagram above? Sup
I am trying to complete this homework assignment and I need to use an example to describe and explain the classical theory of international trade, could you guys help me out?
how to determine free trade for small country
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Q. What is the theory of Second Best? Answer: The principal of the second best notify us that when an economy suffers from multiple distortions the removal of only a few
is general equilibrum in trade
I need help interpreting an article. PLEASE!
Q. Discuss the benefits and costs of joining a fixed-exchange area. Answer: Benefits generally gains from the stability of the area and reduced uncertainty. The compete
Q. Describe the main provisions of the Maastricht Treaty of 1991. Answer: It identified for a single currency by January 1/1999 harmonizing social security policy insid
Q. Explain the Law of One Price. Give an example. Answer: The law of one price affirms that in competitive markets free of transportation costs and trade barriers ide
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