Question: Hi, could you please help me with this Economic question? Question 2 The U.S.-Japan Trade Agreement (USJTA) entered into force on January 1, 2020. In

Hi, could you please help me with this Economic question? Question

Hi, could you please help me with this Economic question?

2 The U.S.-Japan Trade Agreement (USJTA) entered into force on January 1,

Question 2 The U.S.-Japan Trade Agreement (USJTA) entered into force on January 1, 2020. In this agreement, market access for some products will be provided through the creation of specific quotas. a. Define a quota. (5 marks) b. Discuss one reason why countries prefer to use quotas rather than tariffs. (5 marks) c. Describe two macroeconomic objectives that are achieved when the government uses a quota. (10 marks)

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