If Canada Imposes a Tariff of $1 Per Imported Shirt

question 75

Multiple Choice

If Canada imposes a tariff of $1 per imported shirt, the tariff

• A)raises the price of a shirt to Canadian consumers.
• B)benefits Canadian shirt producers.
• C)decreases imports of shirts into Canada.
• D)creates a social loss.
• E)all of the above

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Definitions:

CD Player

A device that plays audio compact discs, capable of reading digital audio data and converting it into sound.

Revoke Acceptance

The right of a buyer to cancel acceptance of goods received if they substantially fail to conform to the contract, under certain conditions.

Nonconforming Goods

Products delivered under a sales contract that fail to meet quality, specification, or performance requirements.

Substantially Impaired

A situation where the value, function, or utility of something has been significantly reduced or damaged.