Exhibit 19-3 
In Exhibit 19-3, if the world price of corn is $6 and there are no trade restrictions, the United States will
A) produce 7, 000, consume 3, 000, and import 4, 000 bushels of corn
B) have an excess demand for corn
C) be a net importer of corn
D) not produce any corn
E) consume only a portion of what is produced
Correct Answer:
Verified
Q69: Differences in resource endowments are differences in
A)tariffs
Q70: Differences in tastes among nations
A)make gains from
Q71: Exhibit 19-4 Q72: Exhibit 19-3 Q73: If production is subject to economies of Q75: Exhibit 19-2 Q76: If a tariff increases, everybody loses except Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
