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Please answer these question in small paragraph Define tariffs What is the impact of charging a tariff on imported products? Why do governments make use
Please answer these question in small paragraph
- Define tariffs
- What is the impact of charging a tariff on imported products?
- Why do governments make use of tariffs?
- Define free trade.
- Under a free Trade Agreement, how are tariffs affected?
- Define currency fluctuation.
- List 2 observations about the impact of having a Canadian dollar that is worth less than an American dollar.
- At an exchange rate of $1 USD = $1.18 CDN, what is the value in Canadian dollars of a product that is purchased for $15 million USD? What if the CDN dollar is worth $1.05? Finally, at $1.45? (Search for a currency converter online to do this exercise)
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Modern Principles Microeconomics
Authors: Tyler Cowen, Alex Tabarrok
4th Edition
1319098762, 978-1319098766
