After a Certain Nation Changed Its Policy from One That

question 57

Multiple Choice

After a certain nation changed its policy from one that banned international trade in wheat to one that allowed international trade in wheat,the nation began importing wheat.As a result,total surplus in the wheat market increased by $10 million.Which of the following changes could have occurred as well?

• A)The price of wheat in that nation increased with the adoption of the new policy.
• B)The domestic quantity of wheat supplied increased with the adoption of the new policy.
• C)Consumer surplus in the wheat market increased by $7 million and producer surplus in the wheat market increased by $3 million.
• D)Consumer surplus in the wheat market increased by $15 million and producer surplus in the wheat market decreased by $5 million.

---

Definitions:

American Federation

An organization or association formed for a specific purpose, potentially referring to labor, political, or other types of federations in the United States.

Samuel Gompers

An influential labor union leader who founded the American Federation of Labor (AFL) and played a key role in advocating for workers' rights in the late 19th and early 20th centuries.

Haymarket Bombing

A pivotal event in Chicago in 1886, where a bomb detonated during a labor rally, leading to riots and a trial that highlighted issues of workers' rights and law enforcement tactics.

Labor Unions

Organizations that represent the collective interests of workers in negotiations with employers regarding wages, working conditions, and rights.