The Diagram Below Shows the Demand and Supply Curves for Refrigerators

question 60

Multiple Choice

The diagram below shows the demand and supply curves for refrigerators in Canada.
FIGURE 34- 1
-Assume Canada is trading with a country that has lower costs of production for some good and can therefore sell that good at a lower price. If Canada imposes a tariff large enough to equalize the foreign country's price with ours, then

• A)Canada would gain absolute advantage.
• B)this tariff will eliminate exploitation of Canadian markets.
• C)a "level playing field" will be created.
• D)all Canadians would realize an increase in their standard of living.
• E)the gains from international specialization would be reduced.

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