*Can both of the following statements be true? Why or why not? a. Tariffs and import quotas...

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*Can both of the following statements be true? Why or why not?

a. “Tariffs and import quotas promote economic inefciency and reduce the real income of a nation. Economic analysis suggests that nations can gain by eliminating trade restrictions.”

b. “Economic analysis suggests that there is good reason to expect that trade restrictions will exist in the real world.”

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Microeconomics Private And Public Choice

ISBN: 9781305506893

16th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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