People sometimes argue that imports should be limited by government policy. Suppose a government quota on the
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People sometimes argue that imports should be limited by government policy. Suppose a government quota on the quantity of imports causes net exports to rise. Explain why total expenditures and national output may rise after the quota is imposed. Who is likely to benefit from the quota? Who will be hurt?
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When a government imposes a quota on imports it restricts the quantity of foreign goods that can enter the domestic market This restriction can lead t...View the full answer
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