Explain how import tariffs might correct an imbalance in the current account of the balance of payments and consider whether these tariffs are the best way of correcting such an imbalance.
Exam No:9708_w23_qp_23 Year:2023 Question No:5(a)
Answer:

Knowledge points:
6.2.1 meaning of protectionism in the context of international trade
6.3.3 causes of imbalances in the current account of the balance of payments
Solution:
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