Multiple Choice
If Japan does not have a comparative advantage in producing rice, the consequences of adopting a Japanese policy of reducing or eliminating imports of rice into their country would include:
A) making the price of rice in Japan rise.
B) making the real incomes of Japanese rice producers rise, but the real incomes of Japanese rice consumers fall.
C) making the real incomes of non-Japanese rice exporting countries lower.
D) all of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q128: A reduction in the tariff on imported
Q129: A nation can gain from international trade
Q130: Suppose that the U.S. can make 15
Q131: The central reason why there are gains
Q132: Which of the following is an incorrect
Q134: If opening up international trade resulted in
Q135: If one nation can produce greater quantities
Q136: Politicians often argue for tariff increases in
Q137: Assume that one day's labor in England
Q138: If two countries each are currently producing