Figure 9-3 Since 1953 the United States Has Imposed

question 246

Multiple Choice

Figure 9-3 Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 9-3 illustrates the impact of the quota.
-Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?

• A) Domestic consumption equals 28 million pounds of which 18 million pounds are imports.
• B) Domestic consumption equals 40 million pounds of which 22 million pounds are imports.
• C) Domestic consumption equals 34 million pounds of which 16 million pounds are imports.
• D) Domestic consumption equals 34 million pounds of which 18 million pounds are imports.

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