ECO 2013 Lecture Notes - Lecture 6: Protectionism, Voluntary Export Restraints, Asteroid Family
Document Summary
Reviewed the changes the occur when a tariff is applied. 7. 4 government policies that restrict international trade (continued: quotas and voluntary export restraints. A numbered limit a government imposes on the quantity of a good or service that can be imported in a country (no government revenue involved) An agreement negotiated between two countries that places a numerical limit on the quantity of a good that can be imported b one country from another country. 7. 5 the arguments over trade policies and globalization: globalization. The process of countries becoming more open to foreign trade and investment. Want to protect domestic firms form foreign competition. Believes globalization favors interest of high0income countries at the expense of low-income countries. In developing countries children start working as young as seven years of age. In 1988 for the world cup, children in pakistan were making soccer balls.
