Use the Following to Answer Question

question 7

Multiple Choice

Use the following to answer question
-(Figure: The Domestic Market for Rice) Use Figure: The Domestic Market for Rice.Assume that P_A is the autarky price and P_W is the world price.After international trade,this nation will _____ a quantity of rice equal to _____.

• A)import;Q_s - Q_d
• B)export;Q_s - Q_d
• C)export;Q_s - Q_a
• D)import;Q_a - Q_d

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Definitions:

Bailor

A bailor is someone who temporarily hands over control of property to another, known as the bailee, but retains its ownership.

Bailee

A person or entity that temporarily holds property belonging to another under a bailment agreement, often with a duty to care for it.

Personal Property

Any property that is not land or permanently affixed to the land.

Bailment Relationships

Legal relationships arising when one party (the bailor) temporarily hands over control, but not ownership, of a property to another (the bailee) under an agreement.