9. A Member of Parliament (MP) renounces her past support for protectionism: Canada's trade deficit must be
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9. A Member of Parliament (MP) renounces her past support for protectionism: "Canada's trade deficit must be reduced, but import quotas only annoy our trading partners. If we subsidize Canadian exports instead, we can reduce the trade deficit by increasing our competitiveness." Using a two-panel diagram, show the effect of an export subsidy on net exports and the real exchange rate. Do you agree with the MP?
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Related Book For 
Principles Of Macroeconomics
ISBN: 9780176591977
7th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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