copared with the Tariff, would belgium's welfare be different if it set a quota ( that had the same level of imports as under the tariff) and auctioned the quota rihts to the highest bidder? tell whether wellfare is hight, lower or the same, then explain why
copared with the Tariff, would belgium's welfare be different if it set a quota ( that had the same level of imports as under the tariff) and auctioned the quota rihts to the highest bidder? tell whether wellfare is hight, lower or the same, then explain why
Globalization has enhanced international trade and the emergence of a world market for goods and services. Countries have been exchanging goods and services across borders without many restrictions.
Free trade has resulted in high competition in many markets. The competition made it difficult for the small domestic firms to survive in the market and the governments have introduced trade restrictions to protect the domestic firms.
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