Use the Information Below to Answer the Following Questions

question 69

Multiple Choice

Use the information below to answer the following questions.
Fact 31.3.2
With free trade between Australia and Canada, Australia would export beef to Canada. But Canada imposes an import quota on Australian beef.
-Refer to Fact 31.3.2. Canadian gains from trade will ________ and Australian gains from trade will ________.

• A)increase; decrease
• B)decrease; decrease
• C)decrease; increase
• D)increase; increase
• E)not change; not change

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Definitions:

Private Sector

Part of the economy that is run by individuals and companies for profit and is not directly controlled by the state.

Wage Survey Data

Information gathered about salary rates and compensation for various jobs, used to benchmark and set salaries.

Trade Associations

Organizations founded and funded by businesses that operate in a specific industry to protect and promote their common interests.