The Figure Below Shows the Demand (D) and Supply (S)

question 51

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.
Figure 20.4

-Refer to Figure 20.4. Assume that Ghana is the only cocoa exporter supplying cocoa in the world market at $6 per pound. If the U.S. enters into a free trade agreement (FTA) with Ghana, what would be its total cocoa imports?

• A) 100 pounds
• B) 300 pounds
• C) 200 pounds
• D) 150 pounds
• E) 250 pounds

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Definitions:

Actual Cause

In tort law, the relationship between the unreasonable conduct and the injury to the innocent party, whether the injury was or was not foreseeable. Actual cause is also referred to as cause-in-fact.

Equal Credit Opportunity Act

A U.S. law that aims to give all individuals an equal chance to apply for loans and other forms of credit, regardless of race, religion, national origin, gender, age, or marital status.

Public Assistance Income

Financial support provided by government agencies to individuals and families who have low income or no income, to help them meet their basic needs.

Cooling-Off Rule

A Federal Trade Commission rule under which sales of consumer goods or services over $25 made away from the seller’s regular place of business may be canceled within three business days after the sale occurs.