Refer to the Figure Below to Answer the Following Questions

question 108

Multiple Choice

Refer to the figure below to answer the following questions.

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. Canada imposes a tariff on imported shirts of $4 per shirt.
Figure 31.3.1
-Refer to Figure 31.3.1. The tariff ________ Canada's imports of shirts by ________ million shirts per year.

• A)decreases; 16
• B)decreases; 8
• C)increases; 8
• D)increases; 4
• E)increases; 16

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Definitions:

Non-Special Act Corporation

A corporation that operates under general corporate laws rather than being governed by laws enacted for a specific type of business or purpose.

Prospectus

A detailed document provided by a company to potential investors, outlining the company's financial health, operations, and investment risks.

Ontario Securities Commission

The regulatory body responsible for overseeing the capital markets in Ontario, Canada.

Securities Sale

The process of selling financial instruments such as stocks, bonds, or options in a financial market.