Multiple Choice
Exhibit 19-2
-In Exhibit 19-2, 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
Related Questions
Q59: Exhibit 19-1 Q60: The source of gains from trade is Q61: Which of the following is not a
A)tariffs
B)self-sufficiency
C)autarky
