If Canada Reduces the Tariff Imposed on a Commodity from 10

question 20

Multiple Choice

If Canada reduces the tariff imposed on a commodity from 10 percent to 5 percent, we would expect to observe

• A)a downward shift in the commodity's demand curve.
• B)an increase in the amount of the commodity imported into Canada.
• C)an upward shift in the commodity's demand curve.
• D)an increase in Canada's terms of trade.
• E)an increase in tariff revenue by the Government of Canada.

---

Definitions:

Labour Legislation

Laws and regulations governing the rights and duties of workers, employers, and trade unions, aimed at establishing fair workplaces.

Pay Equity

A principle that emphasizes equal salary for jobs of equal value within an organization, aiming to eliminate discrimination based on gender, race, or other unrelated job performance factors.

Executive Bonuses

Additional compensation given to executives, often tied to performance metrics, company profitability, or achievement of specific targets.

High-risk Executive Behaviours

Actions or decisions by top management that carry a significant chance of negative consequences for the organization or its stakeholders.