MGCR 382 Study Guide - Voluntary Export Restraints, Import Quota, Tariff

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& parts manufacturing plants in 11 states create 40,000 jobs, gained political support: deliberately spread ops over wide area of us to gain political support should there be renewed effort to impose new restrictions. Is a numerical limit on qty of good that may be imported into or exported from a country during some time period. Have traditionally been used to protect politically powerful industries such as agriculture, automobiles, clothing & textiles from threat of competition: e. g. brazil & china impose import quota on no. of foreign films. Import quotas granted to other countries" firms/gov (benefit early importers as they give these importers monopoly power & ability to charge higher prices, hurt late importers who cannot obtain some goods) Force outside firms to compete for market access: export quotas granted to domestic producers. Maintain supply of good in home market e. g. limit natural resource export.

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