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Import restrictions
________ create an incentive to smuggle goods.
Predatory Pricing
________ is a firm that sells a product at a price below its production cost to drive a rival out of business and then increases the price.
Smoot Hawley
When the ________ tariffs were implemented in the 1930s, the average U.S. tariff was a whopping 59 % of a products price.
APEC
In 1994, ________ signed a non- binding agreement to reduce trade barriers among nations.
Canada
It eliminates all tariffs and other trade barriers between ________, Mexico, and other United States.
Shirtland
In a single day, ________ can produce a maximum of either 108 shirts or 36 chips, whereas Chipland can produce a maximum of either 120 shirts or 120 computer chips.
European Union
The** ________ (EU)** was designed to remove all trade barriers within Europe and create a single market.
Import quota
________** is a government imposed limit on the Quinn of a good that can be imported.
