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    Economics Principles and Policy Study Set 2
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    Exam 34: International Trade and Comparative Advantage
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    Compare and Contrast the Effects of a Quota and a Tariff
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Compare and Contrast the Effects of a Quota and a Tariff

Question 72

Question 72

Essay

Compare and contrast the effects of a quota and a tariff on imports.Be sure to include both short-run and long-run effects in your answer.

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A quota is a quantity restriction on imp...

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