Business

Curtis Cochran

19 April, 15:56

If Japan does not have a comparative advantage in producing rice, the consequeces of adopting a Japanese policy reducing or eliminating imports of rice into the country would include:

A. Japan will be able to consume a combination of rice and other goods beyond their domestic production possibilities curve.

B. the real incomes of Japanese rice producers would rise, but the real incomes of Japanese rice consumers would fall.

C. the real incomes of Japanese rice consumers would rise, but the real incomes of Japanese rice producers would fall.

D. the price of rice in Japan will fall