Economists frequently urge governments of developing countries to ...

[xclash]

Economists frequently urge governments of developing countries to replace import quotas with import tariffs as a first step in a strategy that aims to reduce import protection.
 
  What is the reasoning offered by economists to support this recommendation to developing countries?

Question 2

How many people still live on less than the equivalent of 1.25 per day (new definition of extreme poverty)?
 
  a. 100 million.
  b. 500 million.
  c. 1.4 billion.
  d. 2.2 billion.

[yifu223]

Answer to Question 1

Quotas yield rents that result in domestic groups wasting real resources fighting over these rents and at the same time quotas generate no public revenues.

Answer to Question 2

C

[xclash]

Thanks for the timely response, appreciate it

[phuda]

Great answer, keep it coming