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What is Trade liberalisation
Trade liberalisation is the removal of barriers to trade. This has mainly taken the form of restrictions created by national governments like quotas, tariffs and bureaucratic regulations designed to protect domestic producers from lower-priced international competition. The GATT trade rounds and World Trade Organization that was created in 1994 have tried to establish international free trade and liberalise markets in order to raise competition and improve economic efficiency.
This problem involves the question of computing change for a given coin system. A coin system is defined to be a sequence of coin values v1 (a) Let c ≥ 2 be an integer constant
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Is it true that government revenues are increased because of lower tax rates? Ans) It is true to a point. The Laffer curve determines that revenues enhance as the tax rates rise
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