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Which of the Following Statements Is False

question 8

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Which of the following statements is false?


Definitions:

Protection

An alternative term for trade protection; policies that limit imports.

Foreign Trade

Involves the exchange of goods and services between countries, can be through importing or exporting.

Import Tariffs

Taxes imposed by a government on goods and services imported from other countries to protect domestic industries from foreign competition.

Quotas

Quotas are government-imposed trade restrictions that limit the number or monetary value of goods that can be imported or exported during a specific time period.

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