Examlex
Which statement is incorrect?
Comparative Advantage
The ability of a country to produce a particular good or service at a lower opportunity cost than its trading partners.
Import Quota
A government-imposed limit on the quantity or value of goods that can be imported into a country.
Deflationary
Pertains to a period when the general price levels in an economy are falling, which can increase the real value of money.
Tariffs
Taxes imposed by a government on imported goods, often used to protect domestic industries and regulate trade balances.
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