Refer to the Table Below to Answer the Following Questions

question 114

Multiple Choice

Refer to the table below to answer the following questions.
Table 7.3.1
Canada's Market for Widgets

-Table 7.3.1 shows the Canadian supply of and demand for widgets.Widgets are available on the world market for $7.Canadian widget producers convince the government to protect the domestic industry from cheap imports.If the Canadian government sets an import quota of 8 million widgets,the resulting price of a widget in Canada will be ________,and domestic production will be ________.

• A)$6;40 million
• B)$7;36 million
• C)$8;32 million
• D)$9;28 million
• E)$10;32 million

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Definitions:

Munich Crisis

An event in 1938 where European powers, including Britain and France, conceded to Nazi Germany's annexation of Czechoslovakia's Sudetenland in an attempt to avoid war.

Appeasement

A diplomatic policy aimed at avoiding conflict by making concessions to another nation.

U.S. Air Forces

The aerial warfare service branch of the United States Armed Forces, responsible for conducting air operations in defense of the country and its interests.

Nazi-Soviet Nonaggression Pact

An agreement signed in 1939 between Nazi Germany and the Soviet Union, promising not to engage in military action against each other, which was broken when Nazi Germany invaded the Soviet Union in 1941.