O-LevelEconomicsInternational trade and globalisation2281/12 · May/June 2017 · Q291 Mark
In 2015, Russia banned the imports of food, such as milk, from the European Union (EU). Which outcomes are most likely to happen as a result? [Table 29.1]
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Aexcess demand, fall, rise
Bexcess demand, rise, rise
Cexcess supply, fall, fall
Dexcess supply, rise, fall
✓ Correct answer
D: excess supply, rise, fall
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