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Vincennes University AGBS 434 Chapter 5 TRUE/FALSE QUESTIONS 1)Amber box subsidies are not trade distorting 2
Vincennes University
AGBS 434
Chapter 5
TRUE/FALSE QUESTIONS
1)Amber box subsidies are not trade distorting
2. If the government supports the price of a commodity it is providing an export subsidy.
3. GMO labeling is a barrier to trade.
4. The principle of comparative advantage suggests that Iowa ought to be producing corn and soybeans
5. As the volume of trade expands, economies become more independent
6. A solution to the world food problem is for each country to be self-sufficient in food production.
7. Tariff rate quotas reduce the tariffs above some specified quantity.
8. Dumping is a sale below variable cost
9. With increased trade liberalization throughout the whole world, food would be more expensive but diets would improve.
10. Blue box subsidies require production controls
11. Sanitary and phytosanitary regulations are barriers to trade under WTO standards
12. The current round of trade negotiations is referred to as the Millennium Round
13. A payment by the government for organic production is an illustration of multifunctionality
14. The Uruguay Round of trade negotiations was precedent setting in that it was the first to include agriculture.
15. Raising the exchange rate acts as an export subsidy.
16. Export subsidies lower world food prices
17. Canada is a state trader in wheat
18. The benefits of trade arise from specialization
19. Trade theory is rooted in the principle of comparative advantage
20. Which WTO box is clearly trade distorting:
21. NAFTA is an economic union
22. Multifunctionality refers to foods that have many uses
23. Selling in the export market at less than cost is
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