Macroeconomics 11th Edition by Michael Parkin

تمرين 28

Use the following news clip to work the Problem.
A New Food Crisis Is on Our Plates
Over the past year the price of corn has risen 52 percent, wheat 49 percent, and soybeans 28 percent. Alarmed at spiking food prices, a score of countries, including Russia and Ukraine, have banned food exports to make sure they can feed their own people first.
a. What are the benefits to a country from importing food?
b.What costs might arise from relying on imported food