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Refer to Shoe Quota. At a given exchange rate what does a quota do to desired net exports? As a result of this change which curve in the open-economy model shifts and which direction does it shift?
Unenforceable
A term that describes a contract or clause that, due to certain defects or legal principles, cannot be legally compelled or enforced by a court.
Fairness of the Bargain
The equitableness or justness of the terms agreed upon in a contractual agreement.
Lawful Purpose
A lawful purpose is an action, contract, or transaction that is not in violation of any legal statutes or regulations.
Quantum Meruit
Quantum meruit is a legal principle allowing a party to recover the reasonable value of services provided, even in the absence of a formal contract.
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