Author Question: Continued tariff protection for industries that have already attained all the possible economies of ... (Read 56 times)

rissygurl1124 · **on:** Oct 12, 2022

Question 1

Suppose Canada entered into a free-trade arrangement with China and, as a result, Canadian imports from India were replaced with imports from China. This would be an example of
◦ trade expansion.
◦ trade diversion.
◦ dumping.
◦ trade creation.
◦ countervailing trade.

Question 2

Continued tariff protection for industries that have already attained all the possible economies of scale will likely
◦ maintain high prices to consumers of the products produced in the protected industries.
◦ redistribute income away from the factors used in the protected industries.
◦ reduce the stream of tariff revenue to the government.
◦ reduce employment in the protected industries.
◦ result in lower domestic prices for the products they produce.

jojomac20 · **Reply #1 on:** Oct 12, 2022

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