Question
A. Briefly explain the following reasons why trade barriers are used: Protecting domestic employment National security Retaliation Protecting consumers Protecting infant industries B. Explain the
A. Briefly explain the following reasons why trade barriers are used:
- Protecting domestic employment
- National security
- Retaliation
- Protecting consumers
- Protecting infant industries
B. Explain the participation of WTO in the decline of the role tariff play in international trade in modern times.
C. 1. Distinguish Licenses from quotas.
2. Distinguish Embargo from Voluntary export restraint
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
