Explain the concept of effective rate of protection

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Reference no: EM131006451

Explain the concept of 'effective rate of protection'

a) What does the effective rate on final goods depend upon and how?

b) In what way does the effective rate analysis help illuminate these policy issues:

-Deepening production of LDCs

-Escalation of tariff rates by degree of processing in industrial countries

Reference no: EM131006451

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