For most products,Canada is a small economy with no market power in the global market.If Canada imposed a tariff on imported goods from a low- wage foreign country,this would
A) reduce the advantages of specialization and trade.
B) reduce the price of the imported good in Canada.
C) increase national income in the low- wage country.
D) equalize the costs of production between the two countries.
E) increase the income of the foreign producer.
Correct Answer:
Verified
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