1- Why is a quota more detrimental to an economy than a tariff that results in...

1- Why is a quota more detrimental to an economy than a tariff that results in the same level of imports as the quota? What is the net outcome of either tariffs or quota for the world economy?

2-“The potentially valid arguments for tariff protection—military self-sufficiency, infant industry protection, and diversification for stability—are also the most easily abused.” Why are these arguments susceptible to abuse?

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Rahul Sunny answered 1 year ago

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