This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If Japan is relatively capital rich and the United States is relatively land rich, and if food is ... (Read 211 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Jun 30, 2018
If Japan is relatively capital rich and the United States is relatively land rich, and if food is relatively land intensive then trade between these two, formerly autarkic countries will result in
 
  A) an increase in the relative price of food in the U.S.
  B) an increase in the relative price of food in Japan.
  C) a global increase in the relative price of food.
  D) a decrease in the relative price of food in both countries.
  E) an increase in the relative price of food in both countries.

Question 2

Are tariffs and quotas equivalent in their economic effects? Demonstrate.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Silverbeard98

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

No. There are government revenue differences. There are differences related to market dynamics, industrial organization of the protected industry, administration, and the potential for corruption.


ap345

  • Member
  • Posts: 537
Reply 2 on: Jun 30, 2018
:D TYSM

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Ecological pyramids in food webs. Ecological pyramids in food webs.
How do you set yourself apart in a country so rich that of its 4.6 million people, 79,000 are ... How do you set yourself apart in a country so rich that of its 4.6 million people, 79,000 are ...
USA—the land of diversity. USA—the land of diversity.
The DASH diet, rich in whole grains, fruits, vegetables, and low-fat dairy foods The DASH diet, rich in whole grains, fruits, vegetables, and low-fat dairy foods
Consumerism and Sustainability: Food from Farm to Table Consumerism and Sustainability: Food from Farm to Table
GDP per Capita in the United States, 1870–2009 (Ratio Scale) GDP per Capita in the United States, 1870–2009 (Ratio Scale)
Video: Dorsal Recumbent Position

For a complete list of videos, visit our video library