The above figure shows the supply and demand curves for rice in the U.S. and in Japan. Assume there is no trade between the two countries
If fertilizer price drop causes the supply curves in both countries to shift rightward by the same amount, then A) the quantity will increase the same amount in both counties.
B) the quantity will decrease the same amount in both countries.
C) the quantity will increase more in Japan than in the U.S.
D) the quantity will increase more in the U.S. than in Japan.
D
You might also like to view...
When bank tellers converse with each other, keeping customers waiting in line, they are
A) unemployed. B) out of the labor force. C) working in the best interest of the agent. D) working in the best interest of the principals.
If aggregate expenditure is less than GDP, how will the economy reach macroeconomic equilibrium?
A) Inventories will decline, and GDP and employment will decline. B) Inventories will rise, and GDP and employment will rise. C) Inventories will decline, and GDP and employment will rise. D) Inventories will rise, and GDP and employment will decline.