Refer to the Figure Below to Answer the Following Questions

question 116

Multiple Choice

Refer to the figure below to answer the following questions.

Figure 7.2.1
The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt.
-In Figure 7.2.1, with international trade, Canada ________ million shirts per year.

• A)imports 32
• B)imports 48
• C)exports 16
• D)exports 32
• E)imports 16

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Definitions:

Arbitrators

Professionals who resolve disputes between parties by making decisions that are usually binding, often used in labor, commercial, and legal disagreements.

Strike Action

A work stoppage initiated by employees as a form of protest, typically aimed at securing better conditions or pay from their employers.

Negotiations Break Down

This occurs when parties engaged in negotiation are unable to reach an agreement or consensus, leading to an impasse.

Arbitration

The settling of a dispute between labour and management by a third party.