Asked by
charlie higgason
on Dec 17, 2024
Verified
In the long run import quotas do not affect the size of net exports.
Import Quotas
Restrictions set by a government on the quantity of a specific good that can be imported into a country.
Net Exports
The value of a country's total exports minus the value of its total imports, which is a component of a country's GDP.
- Consider the extended implications of trade policies, particularly import quotas, on net exports and economic indices.
Verified Answer
TG
Learning Objectives
- Consider the extended implications of trade policies, particularly import quotas, on net exports and economic indices.