Compare the Effects of an Import Quota on Output Under

question 3

Essay

Compare the effects of an import quota on output under:
a.a flexible exchange rate.
b.a fixed exchange rate.

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Definitions:

Antiassignment Clause

An antiassignment clause is a provision in a contract that prohibits the transfer of rights or delegation of duties to another party without the consent of the original party.

Assignment

The act of moving ownership or entitlements from one individual or entity to another.

Personal Nature

relates to characteristics or matters that are primarily concerning or affecting an individual rather than a broader group or organizational level.

Expressly Agree

To explicitly consent to or acknowledge something, typically in a clear and unequivocal manner.