09 Aug Tarrifs in Economics
Begin this exercise by searching for scholarly sources describing one case of a tariff levy and another case in which policymakers opted to implement one or more nontariff barriers.
Then write and submit a critical essay that compares tariffs with nontariff trade barriers based on your case studies. In your response, address each of the following items:
· In each of your examples, describe why policymakers chose to deploy one form of trade protection — tariffs or nontariff barriers — over the other.
· Evaluate whether the purpose and objectives underlying the decision to deploy a specific type of protection were achieved.
· Evaluate any additional economic benefits or costs associated with the decision to implement a particular type of trade barrier that may not have been planned or anticipated by policymakers. Include in this evaluation an analysis of the issues relating to welfare effects and the distribution of costs/benefits within each country.
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