PM O 41.71 1005/25/2016 11:57 PM Question 5 of 16 sapling Canada is c described

Question

PM O 41.71 1005/25/2016 11:57 PM Question 5 of 16 sapling Canada is c described as a: considering imposing a tax on imports of Chinese solar panels. This action would be best O voluntary export restraint O quota O subsidy O tariff In general, which of the following is most likely to occur as a result of the proposed tax on imported solar panels? O Solar panel producers in Canada will face more competition. O Canadian workers in solar panel manufacturing will be laid off. O Consumers in Canada will face higher prices for solar panels O Canadian consumers will benefit from cheaper solar panels

Explanation / Answer

1. Answer- Tarrif

We know that the tax on import and exports is refered to as tarrif.

2. Answer- Consumers in Canada will face higher prices for solar panels

We know that when import duty is imposed by the government then the prices of imported goods in domestic market will be increased. But the domestic producers will be benefited becuase they will recieve higher prices for the product. The government is also benefited more collection of revenues.

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