The WTO Argues That Removing Tariff Barriers and Subsidies in the Agricultural

question 46

Multiple Choice

The WTO argues that removing tariff barriers and subsidies in the agricultural sector could

• A) protect domestic agriculture in developed nations.
• B) lower the overall level of agricultural trade.
• C) restrict global economic growth.
• D) lower prices to consumers.

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Definitions:

Index of Leading Indicators

A composite of economic variables that predicts future economic activity, aiding in economic forecasting.

Recessions

Periods of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in two successive quarters.

Recoveries

denotes the periods following recessions during which economic activity starts to increase and recover towards previous levels.

Discouraged Workers

Individuals who are not actively seeking work because they believe no jobs are available for them or there are none for which they would qualify.