Suppose Canada Eliminates a 15% Tariff on Foreign-Made Leather Goods

question 51

Multiple Choice

Suppose Canada eliminates a 15% tariff on foreign-made leather goods.There will be a ________ in the Canadian price of leather goods,________ profits for domestic leather-goods producers,and ________ in the deadweight loss associated with the tariff.

• A)rise; increased; an increase
• B)fall; decreased; a decrease
• C)rise; increased; a decrease
• D)fall; increased; a decrease
• E)fall; decreased; an increase

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