Question : 41) The figure above shows the U.S. demand and U.S. : 1226616

 

 

41) The figure above shows the U.S. demand and U.S. supply curves for cherries. In the absence of international trade, cherry farmers would receive ________ per pound of cherries.

A) $0.50

B) $1.50

C) $2.50

D) $2.00

E) $1.00

 

42) The figure above shows the U.S. demand and U.S. supply curves for cherries. In the absence of international trade, how many pounds of cherries would U.S. farmers produce?

A) 200,000 pounds

B) 400,000 pounds

C) 600,000 pounds

D) 800,000 pounds

E) 0 pounds

43) The figure above shows the U.S. demand and U.S. supply curves for cherries. Suppose the world price of cherries is $2 per pound. At this price, U.S. consumption of cherries will equal

A) 200,000 pounds.

B) 400,000 pounds.

C) 600,000 pounds.

D) 800,000 pounds.

E) 0 pounds.

 

44) The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the production of cherries in the United States will equal

A) 200,000 pounds.

B) 400,000 pounds.

C) 600,000 pounds.

D) 800,000 pounds.

E) 0 pounds.

 

45) The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the total exports of cherries from the United States to other nations equals

A) 200,000 pounds.

B) 400,000 pounds.

C) 600,000 pounds.

D) 800,000 pounds.

E) 0 pounds.

46) The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the total imports of cherries to the United States from other nations equals

A) 200,000 pounds.

B) 400,000 pounds.

C) 600,000 pounds.

D) 800,000 pounds.

E) 0 pounds.

 

 

47) The above figure shows the U.S. market for wheat. When there no international trade, the U.S. price of wheat is ________ per ton and the U.S. equilibrium quantity is ________ tons.

A) $14; 300,000

B) $14; 500,000

C) $16; 500,000

D) $16; 300,000

E) $16; 700,000

48) The above figure shows the U.S. market for wheat. With international trade, the price of wheat in the United States is ________ per ton and the United States ________ wheat.

A) $16; exports

B) $14; exports

C) $14; imports

D) $16; imports

E) $14; does not trade

 

49) The above figure shows the U.S. market for wheat. With international trade, the United States exports ________ of wheat.

A) 300,000 tons

B) 500,000 tons

C) 700,000 tons

D) 400,000 tons

E) None of the above answers is. correct because the United States imports wheat.

 

50) The above figure shows the U.S. market for wheat. With international trade, U.S. consumers buy ________ tons of wheat and U.S. producers produce ________ tons of wheat.

A) 700,000; 300,000

B) 500,000; 500,000

C) 300,000; 500,000

D) 300,000; 700,000

E) 500,000; 700,000

51) The above figure shows the U.S. market for wheat. With no international trade, the price of wheat in the United States is ________ per ton. With international trade, the price of wheat in the United States is ________ per ton.

A) $16; $14

B) $500; $300

C) $14; $16

D) $700; $300

E) $500; $700