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The Canadian Government Imposes Tariffs on Imported Textiles-Between 10 and 12

question 7

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The Canadian government imposes tariffs on imported textiles-between 10 and 12 percent-in part to support the Canadian textile industry. What is the tariff on imported textiles an example of?


Definitions:

Economic Development

The way in which a country advances its people's economic, political, and social conditions.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country over a specific period.

Service Sectors

The segment of the economy that provides intangible goods and services to consumers, including retail, education, health care, and financial services.

Poor Countries

Nations with low levels of economic productivity, low per capita income, and generally low standards of living.

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