What is meant by voluntary export restraints

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Reference no: EM131900096

Problem

1. In the past two decades, nontariff trade barriers have gained in importance as protectionist devices. What are the major nontariff trade barriers?

2. How does the revenue effect of an import quota differ from that of a tariff?

3. What are the major forms of subsidies that governments grant to domestic producers?

4. What is meant by voluntary export restraints, and how do they differ from other protective barriers?

Reference no: EM131900096

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