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Instruments of Trade Policy Evaluatetheeffectsofan importtariff by the government of a small country. Explain in detail the effects of an import tariff on the economic

Instruments of Trade Policy

Evaluatetheeffectsofan importtariff by the government of a small country. Explain in detail the effects of an import tariff on the economic welfare of the small country. (6 marks)

Describe the potential advantages to the economy if the government offers an export subsidy (5 marks)

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