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1a. Bonus.The terms of trade effect of a tariff in a large country can be calculated as A.imports times the change in the domestic price
1a. Bonus.The terms of trade effect of a tariff in a large country can be calculated as
A.imports times the change in the domestic price
B.imports times the tariff
C.imports times the drop in the world price
D.the change in imports times the tariff
1b. Which international organization currently arbitrates trade disputes?
A.GATT
B.IMF
C.UN
D.WTO
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