Question
(a)TheactualeffectsoftheMFAaredescribedforvariouscountriesabove.UsesupplyanddemanddiagramstoshowtheeffectsofsuchquotasonthedevelopedworldmarketsandalsotheLessDevelopedCountry(LDC)markets(2diagramsneeded). Showonthesediagrams:whogainedandwholostfromtheMFAquotas;andwhowouldgainfromtheirremoval. (b)Imaginethatinsteadofthequotawas imposedin1974,theyimposedanequivalenttariff.Analyze thedifferenceswouldthe imposition of the tariff hasmade. Usingthediagramsfromthefirstpartofthecasestudy (question (a)),explainthe effectswhenthequotaswereremovedandthenre-imposed
(a)TheactualeffectsoftheMFAaredescribedforvariouscountriesabove.UsesupplyanddemanddiagramstoshowtheeffectsofsuchquotasonthedevelopedworldmarketsandalsotheLessDevelopedCountry(LDC)markets(2diagramsneeded). Showonthesediagrams:whogainedandwholostfromtheMFAquotas;andwhowouldgainfromtheirremoval.
(b)Imaginethatinsteadofthequotawas imposedin1974,theyimposedanequivalenttariff.Analyze thedifferenceswouldthe imposition of the tariff hasmade.
Usingthediagramsfromthefirstpartofthecasestudy (question (a)),explainthe effectswhenthequotaswereremovedandthenre-imposed
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