Refer to the figure below to answer the following questions.
The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve.world price is $20 per shirt.Canada imposes a tariff on imported shirts of $4 per shirt.
Figure 15.3.1
-Refer to Figure 15.3.1.The tariff _______ Canada's imports of shirts by _______ million shirts per year.
Definitions:
Maturity
The final payment date of a loan or other financial instrument, at which point the principal (and all remaining interest) is due to be paid.
Annual Coupon
The interest payment made to bondholders once a year, based on the bond's face value.
Yield To Maturity
The complete return expected from holding a bond until it reaches its maturity.
Market Price
The price for an asset or service in the market at the present time.
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