Author Question: The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three ... (Read 27 times)

Caileynorton · **on:** Oct 12, 2022

Question 1

Suppose the Canadian government imposes trade restrictions (tariffs or quotas) on the import of steel. Which of the following groups are likely to be in favour of this policy?
◦ foreign steel producers
◦ Canadian consumers
◦ Canadian steelworkers' union
◦ foreign steel consumers
◦ Canadian automotive union

Question 2

The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries. Assume that all cheddar cheese is identical.

Producing Country	Canadian Price in $	Canadian Price in $
	Free Trade	40% Import Tariff
Canada	10.00	________
United Kingdom	9.00	________
United States	8.00	________

TABLE 20-1

Refer to Table 20-1. If Canada has a 40% tariff in place on the import of cheddar cheese, the price per kilogram of cheese from Canada, United Kingdom and United States respectively, is
◦ $10, $10 and $10.
◦ $10, $9.00 and $8.00.
◦ $10, $12.60 and $11.20.
◦ $14, $9.00 and $8.00.
◦ $14, $12.60 and $11.20.

jbsuccess1 · **Reply #1 on:** Oct 12, 2022

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