During 2005-2006 Europe imported more than $70 million worth of U.S. long-grain rice. In 2006, the European Union threatened to restrict imports of long-grain rice because traces of genetically modified rice were found mixed in to commercial supplies. What would NOT be an effect in the European rice market if U.S. imports were banned?

Question

Quizplus · Accepted Answer

Banning U.S. imports would likely decrease the availability of long-grain rice, making it less accessible or more expensive, which would not lead to an increase in consumption.

During 2005-2006 Europe Imported More Than $70 Million Worth of U.S