The problem addressed in this paper is the import restraints. Imports are the goods that enter into a country from foreign companies. If imports of certain types of goods such as fruits are high, it negatively impacts the local industry. In order to protect local industries from foreign merchandise governments can impose restraints such as tariffs, quotas, or specific product protocols on imported goods. Quotas place a quantity constraint or limit on imports of certain types of
“Breusch-Pagan test will be performed in order to identify any heteroskedasticity that is present in the models. The Breusch-Pagan test specifically tests for heteroskedasticity related to the independent variables and it must be assumed that the error term is normally distributed”.
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