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Unformatted text preview: 3. True-false-uncertain. Explain. A large country always benefits from imposing a tariff as compared to free trade. A small country always loses from imposing a tariff as compared to free trade. Domestic producers benefit from a tariff. Tariffs reduce the volume of international trade. 4. End of chapter questions - #1, 2, 3, 4, 5....
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- Spring '09
- Producer Surplus