Question
Asked Jan 24, 2020
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Policies that restrict free trade among nations are? 

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Expert Answer

Step 1

Major trade restriction policies are;

  • Import quotas
  • Tariffs
  • Subsidies
Step 2

 Import quota is a quantitative barrier to trade through which government restrict the quantity of import of a certain commodity to protect domestic producers from foreign competition. In this case, government puts a direct restriction on the quantity of a good that can be imported.

Step 3

Tariff is a quantitative barrier to trade, where the government imposes a cost on import of ...

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