The above figure shows the U.S. market for wheat. With international trade, the United States exports ________ of wheat
A) 300,000 tons
B) 500,000 tons
C) 700,000 tons
D) 400,000 tons
E) None of the above answers is correct because the United States imports wheat.
D
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Is the marginal benefit from the concert zero? Explain your answer
What will be an ideal response?
An Added Perspective in the text shows that the average size of Japanese rice farms is growing and productivity is improving. This will likely cause __________ and generate requests for ____________
a. prices to increase; price ceilings b. prices to increase; price floors c. supplies to increase; price ceilings d. prices to decrease; price ceilings e. prices to decrease; price floors
If the price level in the current period is higher than what buyers and sellers anticipated,
What will be an ideal response?
Assume that Dusty has $30 in income, the price of a loaf of bread is $1.50, and the price of a jar of peanut butter is $3. At the original income of $30, if the price of a loaf of bread decreased to $1 and the price of a jar of peanut butter increased to $5, then Dusty could buy a maximum of ________ loaves of bread or a maximum of ________ jars of peanut butter.
A. 30; 6 B. 20; 5 C. 5; 20 D. 6; 30