If Country a Opens Up Their Corn Market to Trade

question 255

Multiple Choice

If Country A opens up their corn market to trade with the rest of the world and the global price of corn is higher than the equilibrium price of corn in Country A,then Country A will ________ corn,which will ________ consumer surplus,________ producer surplus,and ________ total surplus.

• A) import; increase; decrease; increase
• B) import; decrease; increase; increase
• C) export; increase; decrease; increase
• D) export; decrease; increase; increase
• E) export; decrease; increase; decrease