Which of the following statements are true? Check all that apply. When the gover

Question

Which of the following statements are true? Check all that apply. When the government makes up the difference between a guaranteed minimum price and the lower price which farmers actually sell their crop, this is a production subsidy When the government subsidizes consumers of an agricultural crop, this is an export subsidy Production subsidies in a small country cause greater deadweight losses than do export subsidies. A country's production subs dies have less impact on other countries than do Its export subsidies.

Explanation / Answer

Answer: a country's production subsidies have less impact on other countries than do its export subsidies.

Export subsidies distort the prices in world market whereas production subsidy does not do that.

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