a) Does the use of tariffs by a country have any effect on the value of that country's currency?

b) Economic externalities arise because of the enactment of tariffs. Is there a way to account for such externalities? And can this be related with Coase's and Pigou's work.

c) What are major the similarities and differences between Tariffs and Quotas. Which one of the two is a more flexible tool to use?

d) What is the welfare impact of quotas compared to tariffs?