Do not need to explain. Just pick the correct answer 8-California\'s modern wine
ID: 1135659 • Letter: D
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Do not need to explain. Just pick the correct answer
8-California's modern wine history began in 1857 when Hungarian-born Count Agoston Haraszthy established Buena Vista Winery near the town of Sonoma.
Slowly but surely, quality improved and U.S. winemakers began making significant changes like labeling wines by varietal rather than borrowing European place names. Modern wine legend Robert Mondavi was one of these mavericks. In 1965 he left his family’s winery, Charles Krug in Napa Valley, and set up his own operation. By the late 1970’s California wines were winning international competitions and surprising critics around the world with their superb quality
Today, California is the dominant wine producer in the United States and the fourth largest producer in the world. Over 90% of all wines made in the U.S. come from this state.It has more than 107 AVA’s (American Viticultural Areas) and produces an astonishing variety of red and white wines. Chardonnay and Cabernet Sauvignon are the most widely planted varietals. More than 2,600 wineries are bonded in the state, up over 200% from 1990. In 2007, over 192 million cases of California wine were sold. Land planted to grapes now tops 527,000 acres. An extensive complement of industries supporting both wine making and grape growing exists, including suppliers of grape stock, irrigation and harvesting equipment, barrels, and labels; specialized public relations and advertising firms; and numerous wine publications aimed at consumer and trade audiences. A host of local institutions is involved with wine, such as the world-renowned viticulture and enology program at the University of California at Davis, the Wine Institute, and special committees of the California senate and assembly. It enjoys weaker linkages to other California industries in agriculture, food and restaurants, and wine-country tourism.
Which "international trade concept" is the above passage illustrating?
A -absolute advantage
B -competitive advantage
C - Michael Porter's Clusters
D -comparative advantage
10- For years California farmers have exported tons of Sacramento Valley-grown rice to Japan, but very little of that has ever ended up on the tables of sushi restaurants or Japanese households. Japan allows imports of 770,000 metric tons of rice, about 7% of annual consumption. It has been reported that the Japanese consumers have been offered 50,000, which is less than 1% of the total consumption.
Instead, the Japanese government, which controls rice imports under a 2-decade-old quota system, has given away most of his and other foreign rice as food aid or sold it domestically as animal feed and an ingredient for rice crackers
With more than 2 million farmers working on mostly small paddies, Japanese rice farming is widely considered inefficient. But farmers represent a core constituency for Prime Minister Shinzo Abe and his Liberal Democratic Party, and Japanese negotiators have been reluctant to give much ground when rice consumption continues to shrink with the nation's aging population.
It's a hot-button issue in the U.S. too. The lack of access to Japanese markets for U.S. rice and other farm goods, as well as for automobiles, has long been seen by many Americans as emblematic of Japan's reluctance to open trade.
The rice import quota by the Japaneses government goes to show that it can be an effective mechanism to...
A- strengthen Japan's position at the negotiation table.
B -lift boycotts threats.
C - ban dumping attempts by California farmers
D -protect a domestic industry vital to the country's culture and economy.
17- Imagine to pineapple farmers. Pablo is a very efficient farmer in Costa Rica. He could sell his pineapples at 96 cents to the local Publix in south Florida. However, due to import tariffs of 6 cents he will have to sell it at a $1.02. While Jose, a weaker producer in Mexico can sell the same pineapple at 99 cents in USA markets.
Why can this happen and which disadvantage of trade blocs this story illustrates
A- It happens because Pablo is not aware that Costa Rica just signed a free trade agreement with the USA. This disadvantage is called trade diversion.
B- It happens because Jose is allowed to export at whatever price he wants as part of the NAFTA agreement. It is called a quota system.
C -It happens because Mexico has a free trade agreement with USA and Costa Rica does not. This is known as trade diversion
D- It happens because Mexican farmers receive subsidies from the USA. This is known as trade creation
18- Consider the following table showing labor requirements per unit of production:
Country Maize Soap
Malawi 6 hrs/unit 15 hrs/unit
Kenya 4 hrs/ unit 30 hrs/unit
According to Adam Smith (absolute advantage)
Malawi should specialize in and export __________;
Kenya should specialize in and export _________.
A- soap;soap
B- soap;maize
C- maize;soap
D-maize;maize
Explanation / Answer
The correct answer is option B because competitive advantage refers to the conditions that put the company in favourable situation as is depicted by the paragraph which resulted in higher wine production in California.
10 Option D, because import quotas are used to to protect domestic industry.
17) The correct option is C) Because US ahave Free trade agrrement with US and it reduces non-trade barriers.
18) Correct option is D, because both can produce more of maize using their labor resources at lower cost.
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