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Welfare Effects of Tariff can be understood as follows:
It is important to understand what the welfare effects for the tariff are. While a tariff might seem desirable because it generates revenue, and might help in protecting domestic producers, it can often leave the domestic consumers quite worse off. This is because domestic producers only have to compete with the higher price of the imported goods, not with the actual price of those goods are being produced at. Thus the domestic consumers in a way are forced to consume the goods produced by less the efficient domestic producers.
Globalization The procedure of interlinking financial markets in various countries into a common, world pool of funds to be accessed by both between borrowers and lenders. It
what is opportunity cost
What are the International factor movements
Q. What is the theory of Second Best? Answer: The principal of the second best notify us that when an economy suffers from multiple distortions the removal of only a few
1. Species that have reached the extinction threshold and are on the verge of extinction – beluga whales, African elephants, mountain gorillas and the California condor might be cl
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what is this theroy
Q. Explain why Relative PPP is useful when comparing countries that base their price levels on different product baskets. Answer: For instance If the U.S price level increase
Question : (a) Differentiate between Transaction, economic risk and Translation risk in foreign exchange market. (use an illustrative and numerical example in each case. (b)
What is the learning of International Economics to the social networking sites
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