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Lecture Accounting information systems basic concepts and current issues (4th edition): Chapter 6 - Robert L. Hurt
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After completing this chapter, students will be able to: Use both partial equilibrium and general equilibrium models to explain the effects of tariffs; use the general equilibrium model of a tariff to explain the important lerner symmetry theorem; extend the analysis to trade quotas, and demonstrate the similarities between tariffs and quotas; describe some the many other ways in which governments restrict international trade.
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