Suppose Canada Eliminates a 15- Percent Tariff on Foreign- Made

question 15

Multiple Choice

Suppose Canada eliminates a 15- percent 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)fall; decreased; an increase
• B)fall; decreased; a decrease
• C)fall; increased; a decrease
• D)rise; increased; a decrease
• E)rise; increased; an increase

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