The Agricultural Marketing System 7th Ed Three part multiple choice question: Pa

Question

The Agricultural Marketing System 7th Ed

Three part multiple choice question:

Part A. Our largest agricultural markets abroad: 1)have been in Latin America 2)have been Australia and New Zealand 3)have been for cotton and tobacco 4)none of the above

Part B. U.S. exports of farm products: 1)are about the same size as U.S. imports of farm products 2)are composed less of crop than of livestock products 3)find larger markets in the low-income economies than the emerging economies 4)None of the above

Part C. Trade barriers: 1)arise entirely from a failure to understand comparative advantage 2)have been increased through GATT 3)are still used by nations as a means of rewarding their friends and punishing their enemies 4)are totally responsible for the large fluctuations in U.S. exports in recent years

Explanation / Answer

answer:

Part A. Our largest agricultural markets abroad:

Answer: 4) none of the above

Canada is largest agricultural market of US

Part B. U.S. exports of farm products:

Answer: 2) are composed less of crop than of livestock products

Part C. Trade barriers:

Answer: 4) are totally responsible for the large fluctuations in U.S. exports in recent years

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