Question: QUESTION FOUR a) Differentiate between advalorem specific duties (4 marks). b) By the use of a graph explain how optimum tariff maximizes a country's

QUESTION FOUR a) Differentiate between advalorem specific duties (4 marks). b) By

QUESTION FOUR a) Differentiate between advalorem specific duties (4 marks). b) By the use of a graph explain how optimum tariff maximizes a country's welfare (11 marks). QUESTION FIVE a) Explain the meaning of balance payment (BOP) (2 marks). b) Describe the main component that constitutes current account and their relationship (13 marks).

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QUESTION FOUR a Differentiation between Ad Valorem and Specific Duties Ad Valorem Duties Ad valorem duties are a type of import duty that is levied as a percentage of the value of the imported goods T... View full answer

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