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identify and discuss three trade restriction policies that are designed to lower imports.

identify and discuss three trade restriction policies that are designed to lower imports.

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Answer #1

1. Tariff on Imports: This would increase the price of the imported good which makes expensive for people to buy
2. Quota: These limits the quantities of goods can be imported, which would reduce the imports
3. Subsidies for local suppliers: In order to gain competitive advantage in terms of cost, governments provide subsidies which would reduce cost and reduces the demand for import

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