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International Economics 15th Edition by Robert Carbaugh
Edition 15ISBN: 978-1285854359International Economics 15th Edition by Robert Carbaugh
Edition 15ISBN: 978-1285854359 Exercise 12
Suppose that the production of $1 million worth of steel in Canada requires $100,000 worth of taconite. Canada's nominal tariff rates for importing these goods are 20 percent for steel and 10 percent for taconite. Given this information, calculate the effective rate of protection for Canada's steel industry.
Explanation
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The effective tariff rate measures the i...
International Economics 15th Edition by Robert Carbaugh
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