The Following Graph Shows the Market Equilibrium for Corn in the United

question 43

Multiple Choice

The following graph shows the market equilibrium for corn in the United States.If the world price of corn is $2 and there are no trade restrictions,the United States will:

• A)produce 3,000 bushels of corn,consume 7,000 bushels of corn,and import 4,000 bushels of corn.
• B)produce 3,000 bushels of corn,consume 7,000 bushels of corn,and export 4,000 bushels of corn.
• C)have an excess supply of corn.
• D)produce 7,000 bushels of corn.
• E)produce 5,000 bushels of corn,consume 7,000 bushels of corn,and import 2,000 bushels of corn.

---

Definitions:

Impartiality

The principle of not being biased, treating all sides fairly without favoritism or prejudice.

Ethical Rules

Guidelines designed to dictate appropriate and moral behavior within a specific context or profession.

Adversarial System

A legal system where two opposing parties present their cases to an impartial judge or jury.

Ethical Rules

Prescribed guidelines designed to direct the behavior of individuals or members of a profession according to what is right or wrong.