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Exhibit 19-2 -Refer to the Graph in the Exhibit.Suppose the World Price

Question 57

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Exhibit 19-2
Exhibit 19-2 -Refer to the graph in the exhibit.Suppose the world price of corn is $6, and no trade restrictions are in place.How many bushels of corn will Canada produce, consume, and export/import?   A)  Canada will produce 7,000, consume 3,000, and import 4,000 bushels of corn.  B)  Canada will produce 7,000, consume 3,000, and export 4,000 bushels of corn.  C)  Canada will produce 3,000, consume 7,000, and import 4,000 bushels of corn.  D)  Canada will produce 3,000, consume 7,000, and export 4,000 bushels of corn.
-Refer to the graph in the exhibit.Suppose the world price of corn is $6, and no trade restrictions are in place.How many bushels of corn will Canada produce, consume, and export/import?  


A)  Canada will produce 7,000, consume 3,000, and import 4,000 bushels of corn. 
B)  Canada will produce 7,000, consume 3,000, and export 4,000 bushels of corn. 
C)  Canada will produce 3,000, consume 7,000, and import 4,000 bushels of corn. 
D)  Canada will produce 3,000, consume 7,000, and export 4,000 bushels of corn.

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