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| The absence of barriers to the free flow of goods and services between countries. |
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| A tax levied by governments on imports of exports. |
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| Levied as a fixed charge for each unit of good imported. |
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| Levied as a proportion of the value of the imported good. |
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| Government financial assistance to a domestic producer. |
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| A direct restriction on the quantity of some good that can be imported into a country. |
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| The process of applying a lower tariff rate to imports within the import quota than those over the quota. |
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| Voluntary Export Restraint (VER) |
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| A quota on trade imposed by the exporting country, typically at the request of the importing country's government. |
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| The extra profit producers make when supply is artificially limited by an import quota. |
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| Local Content Requirement |
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| A requirement that some specific fraction of a good be produced domestically |
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| Administrative Trade Policies |
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| Rules adopted by governments that can be used to restrict imports or boost exports. |
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| Selling goods in a foreign market for less than their cost of production or below their fair market value. |
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| Rules designed to punish foreign firms that engage in dumping and thus protect domestic producers from unfair foreign competition. |
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| Passed in 1996, this law allows Americans to sue foreign firms that use Cuban property confiscasted from them during Cuba's 1959 revolution. |
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| Passed in 1996, this law allows Americans to sue foreign firms that use property in Libya or Iran confiscated from Americans. |
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| Proposed by Alexander Hamilton in 1792, this oldest economic argument for government intervention states that developing countries have a comparative advantage in manufacturing. |
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| Government policy aimed at either helping the country's domestic firms retain first-mover gains or helping domestic firms find entry into a market; applied when the world market will profitably support only a few firms and certain countries may predominate in the export of certain products simply because they had first-mover firms. |
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| Passed in 1930, this U.S. law erected a wall of tariff barriers against imports. |
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| General Agreement on Tariffs and Trade |
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