Oswaldo Compton

Business

20 October, 23:07

Suppose that the current international price of wheat is $6 per bushel and that the United States is currently exporting 30

million bushels per year. lfthe United States suddenly became a closed economy with respect to wheat, would the

domestic price of wheat in the United States end up higher or lower than $6?

a. Higher.

b. Lower.

c The same.

+4

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