Can both of the following statements be true? Why or why not? a. Tariffs and import quotas

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Can both of the following statements be true? Why or why not?

a. “Tariffs and import quotas promote economic inefficiency and reduce the real income of a nation. Economic analysis suggests that nations can gain by eliminating trade restrictions.”

b. “Economic analysis suggests that there is good reason to expect that trade restrictions will exist in the real world.”

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Macroeconomics Private And Public Choice

ISBN: 9780357134009

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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Question Posted: Oct 08, 2023 01:19 AM

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Can both of the following statements be true? Why or why not? a. Tariffs and import quotas

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Both of the statements can be true Lets examine each statement and its context a Tariffs and import ...View the full answer

Macroeconomics Private And Public Choice

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