The Statement That "Tariffs Are Needed to Protect Canadian Firms

question 143

Multiple Choice

The statement that "tariffs are needed to protect Canadian firms from foreign producers which sell excess goods in the Canadian market at less than cost" would be most closely associated with which tariff argument?

• A)cheap foreign labour
• B)protection against dumping
• C)diversification for stability
• D)increased domestic employment

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Definitions:

Average Product

Average Product is the output per unit of input, calculated by dividing total product by the quantity of the input.

Marginal Product

The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.

Average Product

In economics, the output produced per unit of input, used to measure productivity efficiency.

Marginal Product

The increase in output that results from a one-unit increase in the input, holding all other inputs constant.