QUESTION 1 Which of the following is prompting farmers in many developed nations

Question

QUESTION 1

Which of the following is prompting farmers in many developed nations to discover new ways to manage risk and increase agricultural efficiency?

designation of agricultural products as dual use products

provision of extensive government subsidies

exposure of agribusiness to market forces

enforcement of trade embargoes and tariffs

2 points   

QUESTION 2

Which of the following is a result of the protection of domestic companies from international competition?

Companies become more reliant on protection.

Protection increases a company's incentives to obtain the knowledge it needs to become more competitive.

There are increased incentives to cut production costs and improve quality.

Consumers pay less for products.

2 points   

QUESTION 3

Which of the following statements is true of embargoes?

An embargo may be placed on one or a few goods or may completely ban trade in all goods.

An embargo is the least restrictive nontariff barrier available.

Embargoes are used frequently today because they are easy to implement.

An embargo is usually employed for economic reasons.

2 points   

QUESTION 4

Which of the following is a method of restricting trade?

foreign trade zones

export financing

subsidy

local content requirements

2 points   

QUESTION 5

Which of the following is the main cultural motive behind government intervention in trade?

promotion of strategic trade policies

protection of national identity

protection of jobs

protection of young industries from competition

2 points   

QUESTION 6

Purposely understaffing customs offices to cause time delays, requiring special licenses that take a long time to obtain, and requiring air carriers to land at inconvenient airports are all examples of ________.

local content requirements

administrative delays

voluntary export restraints

import quotas

2 points   

QUESTION 7

Which of the following statements is true of tariffs?

They protect domestic producers.

They increase products' appeal to buyers.

They lower the effective prices of imports.

They are the major source of government revenue in developed nations.

2 points   

QUESTION 8

Countries might impose a(n) ________ in response to the threat of an import quota or total ban on a product by an importing nation.

ad valorem tariff

compound tariff

embargo

voluntary export restraint

designation of agricultural products as dual use products

provision of extensive government subsidies

exposure of agribusiness to market forces

enforcement of trade embargoes and tariffs

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Explanation / Answer

Ans 1: exposure of agribusiness to market forces

Explanation: By exposing agribusiness to market forces the farmers of developed nations are developing new ways to manage risk and increase agricultural efficiency.

Ans 2: Companies become more reliant on protection

Explanation: Due to the protection of domestic companies from international competition, these companies are now more relied on protection policies rather than developing their competitive advantage to compete in those markets.

Ans 3: An embargo may be placed on one or a few goods or may completely ban trade in all goods.

Explanation: Embargo refers to an official ban on the trading of goods or commercial activity with a particular country. It is the most restrictive nontariff barrier available.

Ans 4: local content requirements

Explanation: Local content requirements are policy measures that typically require a certain percentage of intermediate goods used in the production processes to be sourced from domestic manufacturers.

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