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During 2005-2006 Europe imported more than $70 million worth of US long-grain rice. In 2006, the ...

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During 2005-2006 Europe imported more than $70 million worth of US long-grain rice. In 2006, the ...

During 2005-2006 Europe imported more than $70 million worth of US long-grain rice. In 2006, the European Union threatened to restrict imports of long-grain rice because traces of genetically modified rice were found mixed in to commercial supplies. What would NOT be an effect in the European rice market if U.S. imports were banned?
A) The price of long-grain rice would increase
B) The quantity of long-grain rice imports would decrease
C) There would be an increase European in rice production
D) There would be a increase in long-grain rice consumption

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Foundations of Macroeconomics

Edition: 8^th

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vellojo Author

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Thank you for this

Comes at the right time too!

Good luck on your exams

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Studying economics @ Edinburgh U

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