During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee. How is the gain from imports distributed between consumers and domestic producers? A. U.S. producer surplus shrinks. B. U.S. consumer surplus increases. C. Total U.S. surplus increases. D. All the above answers are correct.
During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee. How is the gain from imports distributed between consumers and domestic producers? A. U.S. producer surplus shrinks. B. U.S. consumer surplus increases. C. Total U.S. surplus increases. D. All the above answers are correct.
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 3CQQ
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During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee. How is the gain from imports distributed between consumers and domestic producers?
A. U.S.
B. U.S.
C. Total U.S. surplus increases.
D. All the above answers are correct.
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