Quotas are a much greater threat to competition than are tariffs because quotas preclude additional imports at any price.
Answer the following statement true (T) or false (F)
True
A tariff does not place a physical limit on the quantity of a good coming into the country while a quota does.
Economics
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Which of the following is a treaty to eliminate all trade barriers between Canada, Mexico, and the United States?
(A) MERCOSUR (B) NAFTA (C) CARICOM (D) APEC
Economics
The argument that government action is justified based on the fact that people would agree to be coerced to do the action if everyone else is forced to do the action is essentially an argument based _____
a. upon the transitional gains trap b. on the free rider problem c. on the ideal of the public interest d. prisoners dilemma
Economics