Japan's Trade Policies with Regard to Rice Reflect the Fact

question 29

Multiple Choice

Japan's trade policies with regard to rice reflect the fact that

• A)Japan has a comparative advantage in rice production and therefore exports most of its rice crop.
• B)there are gains from trade that Japan captures by engaging in free trade in rice.
• C)japanese rice farmers have significant political power.
• D)Japan imports most of the rice consumed in the country.
• E)there would be no gains from trade available to Japan if it engaged in free trade in rice.

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Definitions:

Overt Display

A conspicuous or obvious exhibition of behavior, emotions, or characteristics that is easily observable.

Ownership Of Property

The legal right or interest that an individual or entity has in an object, land, or real estate.

Class Position

An individual's or group's location within a society's stratification system, often determined by wealth, occupation, and education.

Economic Categories

Economic categories are classifications used in economics to organize concepts, items, or subjects based on common characteristics or attributes, such as industry sectors, income levels, or types of goods and services.