Question: What is an import quota? How is it mostly used today? What are the partial equilibrium effects of an import quota? How are they similar

What is an import quota? How is it mostly used today? What are the partial equilibrium effects of an import quota? How are they similar to and different from the effects of an equivalent import tariff?

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An import quota is a nontariff barrier to the quantity of imports and exports that can be allowed in... View full answer

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