Japan's trade policies with regard to rice reflect the fact that
A) japanese rice farmers have significant political power.
B) Japan has a comparative advantage in rice production and therefore exports most of its rice crop.
C) there would be no gains from trade available to Japan if it engaged in free trade in rice.
D) there are gains from trade that Japan captures by engaging in free trade in rice.
E) Japan imports most of the rice consumed in the country.
A
You might also like to view...
Labor unions cause unemployment because the union contract wage is set
A) below the market wage, causing a shortage of labor. B) above the market wage, causing a surplus of labor. C) above the market wage, causing a shortage of labor. D) below the market wage, causing a surplus of labor.
The shape of the long-run industry supply curve in a perfectly competitive industry is largely determined by: a. the shape of the short-run industry supply curve. b. the price of inputs as the industry expands
c. the price elasticity of market demand. d. the shape of the average fixed cost curve.
During the Great Depression of the 1930s, the unemployment rate in the United States peaked at around
a. 5 percent b. 10 percent c. 12 percent d. 25 percent e. 50 percent
Which of the following could increase the labor-supply curve for computer-repair technicians?
a. an increase in the wages paid to computer-repair technicians b. an increase in immigration c. a change in the work preferences of men, with more of them preferring to be stay-at-home fathers d. an increase in the wages paid to television-repair technicians