Asked by
Julissa Ramirez
on Nov 05, 2024
Verified
The idea of the U.S.-Canadian Free-Trade Agreement that removed all barriers to trade including tariffs and quotas between the United States and Canada by 1998 was to
A) increase the price of Canadian goods sold in the United States.
B) increase the price of U.S. goods sold in Canada.
C) increase the amount that the United States exports to Canada and the amount that the United States imports from Canada.
D) increase the amount that the United States exports to Canada and decrease the amount that the United States imports from Canada.
Free-Trade Agreement
A pact between two or more nations to reduce barriers to imports and exports among them, fostering international trade.
Tariffs
Taxes imposed by a government on imported goods, often used to protect domestic industries from foreign competition.
Quotas
Limits set by governments on the quantity of goods that can be imported or exported over a certain period.
- Understand the effects of tariffs, quotas, and free-trade agreements on international trade.
Verified Answer
MA
Learning Objectives
- Understand the effects of tariffs, quotas, and free-trade agreements on international trade.