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Covid-19 has worked like tariff that restricts trade. The idea then is to understand effects of tariffs on intermediate goods. If tariffs are imposed on
Covid-19 has worked like tariff that restricts trade. The idea then is to understand effects of tariffs on intermediate goods. If tariffs are imposed on intermediate goods,effective tariffscould be a magnified version of nominal tariffs. This obviously has important welfare implications for the world. Explain.
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