If agricultural subsidies are eliminated by the WTO, which of the following statements are correct? Select...
If agricultural subsidies are eliminated by the WTO, which of the following statements are correct?
Select one or more:
a. Farmers in industrialized countries who currently receive export subsidies will gain.
b. The agricultural producers in countries that subsidize their production will be harmed the most.
c. The agricultural exporters in countries that do not use subsidies will benefit the most.
d. The agricultural exporters in countries that do not use subsidies will be harmed the most.
e. Farmers in developing countries who currently do not receive export subsidies will gain.
f. The agricultural consumers all over the world will benefit the most because more farmers will find it profitable to produce.
Homework Answers
Option b,c,e,f
Agricultural subsidies are a mechanism used to lure the domestic producers by the government of a nation, so that they could compete in the international market. So, when these subsidies are removed, it creates an equal opportunity to compete with each other so that the productivity increases which helps both producers and consumers
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