Although rice is a staple of the Japanese diet, the Japanese ...

[casperchen82]

Although rice is a staple of the Japanese diet, the Japanese government has long restricted the importation of rice into Japan. The result of this import quota is:
 
  A) to decrease the price of rice to the Japanese people.
  B) to decrease the consumer surplus of Japanese rice consumers.
  C) to decrease the producer surplus of Japanese rice producers.
  D) a welfare gain for the Japanese people.
  E) to increase the consumption of rice by the Japanese people.

Question 2

Which of following is an example of a homogeneous product?
 
  A) Gasoline
  B) Copper
  C) Personal computers
  D) Winter parkas
  E) both A and B

[beccamahon]

Answer to Question 1

B

Answer to Question 2

E

[casperchen82]

Gracias!

[laurnthompson]

TYSM