International Econ 3

International Econ 3 - -equivalence of tariffs&...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 7: Nontariff Barriers Quota: a direct restriction on the quantity of a good imported/exported -simplest and most direct form of NTB Quota rents: revenue generated by the quota -QUOTA ARE MORE DAMAGING THAN TARIFFS
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: -equivalence of tariffs & quotas-given any tariff, it’s possible to impose a quota w/ the same effects on prices, production, consumption, and trade-vice versa w/ quotas-as market conditions change, tariffs & quotas cease to have identical effects...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online