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Economic Theory in General, and Trade Theory in Particular Are

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Essay

Economic theory in general, and trade theory in particular are replete with equivalencies. For example, it is argued that for any specific tariff one can find an equivalent ad valorem tariff; and that for any quota one can calculate a tariff equivalent. Discuss conditions or situations under which a specific and an ad valorem tariff are not equivalent. Discuss conditions or situations when a tariff and a quota are not equivalent.


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Dynamics

The study of forces and motion in physics, or the variation and contrast in force or intensity in music.

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A psychological approach that focuses on the mental processes involved in knowledge acquisition, perception, and problem-solving.

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