The following is an example of a Product Standard, a type of non-tariff barrier: The U.S. gets China to import a certain value of agriculture over a year. The U.S. gets Japan to limit its exports of autos to not exceed a certain amount over the course of a year. The U.S. sets a maximum total quantity of imports of textiles that are allowed over the course of a year. The U.S. does not allow the import of cows that have not been gone through rigorous testing for foot-and-mouth disease.

The following is an example of a Product Standard, a type of non-tariff barrier: The U.S. gets China to import a certain value of agriculture over a year. The U.S. gets Japan to limit its exports of autos to not exceed a certain amount over the course of a year. The U.S. sets a maximum total quantity of imports of textiles that are allowed over the course of a year. The U.S. does not allow the import of cows that have not been gone through rigorous testing for foot-and-mouth disease.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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