-The Above Figure Shows the Market for Rice in Japan

question 56

Multiple Choice

-The above figure shows the market for rice in Japan.S represents the domestic supply curve,and the horizontal line at P =1 represents the world supply curve.If imported rice is banned,the loss in social welfare is

• A) a + b + c + d + e.
• B) a.
• C) c + e.
• D) i.

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Definitions:

Great Migration

The movement of over six million African Americans from the rural Southern United States to urban areas in the North and West, from approximately 1916 to 1970, in search of better economic opportunities.

Prohibition Movement

A social and political campaign in the United States aiming to ban the manufacture, sale, and consumption of alcoholic beverages, which led to the 18th Amendment and Prohibition era from 1920 to 1933.

Trenchfoot

A medical condition caused by prolonged exposure of the feet to damp, unsanitary, and cold conditions, commonly experienced by soldiers in trenches.

Shell-Shock

An old term used to describe the psychological trauma suffered by soldiers during war, now more commonly referred to as post-traumatic stress disorder (PTSD).