If Japan imposes a quota on imports of rice, the effect will be
a. less rice and higher price in Japan, lower rice prices in exporting countries.
b. more rice and higher price in Japan, higher rice prices in exporting countries.
c. less rice and lower price in Japan, higher rice prices in exporting countries.
d. more rice and lower price in Japan, lower rice prices in exporting countries.
e. less rice and higher price in Japan, higher rice prices in exporting countries.
a
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One of the results of the strong economic growth in the United States relative to the rest of the world is a
a. U.S. trade surplus. b. U.S. trade deficit. c. growing U.S. net exports. d. trade deficit for U.S. trading partners.
When an economy's production capacity is expanding:
A. nominal GDP, but not necessarily real GDP, is rising. B. net exports is always a positive amount. C. DI exceeds PI. D. gross domestic investment exceeds depreciation.