If the Tariffs on Textiles, Apparel Items, and Footwear Mentioned

question 55

Multiple Choice

If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs) , low-income consumers would probably

• A) be better off.
• B) be worse off.
• C) be no better nor worse off.
• D) not be subject to the VERs.

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Definitions:

Serial Number

A unique identifier assigned to individual items, typically for tracking, identification, and inventory purposes.

Liability

The state of being legally responsible for something, particularly for debts or legal obligations.

Bankruptcy and Insolvency Act

Canadian law that provides the legal framework for dealing with the financial distress of individuals and businesses.

Receiver

A party appointed by a court or creditors to manage, protect, and preserve the assets and operations of a company in bankruptcy or legal distress.