Trade Agreements — Unit test Answers

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How do quotas help domestic producers?

Quotas facilitate increased exports of domestic goods.

Quotas lower the cost of domestic goods.

Quotas limit the number of producers that compete in a sector.

Quotas facilitate the sale of more domestic goods.

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How do trade agreements of international organizations affect trade?

by incentivizing the development of trade policies

by eliminating tariffs and taxes on imports and exports

by encouraging countries to provide open access to trade

by helping smaller countries compete in the world market

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