The WTO Argues That by Removing All Tariff Barriers and Subsidies

question 44

Multiple Choice

The WTO argues that by removing all tariff barriers and subsidies to agriculture,all of the following would occur except:

• A)the overall level of trade would increase.
• B)there would be overproduction of products that are heavily subsidized.
• C)prices would fall for consumers.
• D)global economic growth would rise.

---

Definitions:

Social Responsibility Concept

The belief that businesses should contribute to the welfare of society and not be solely focused on maximizing profits.

Profit Motive

The fundamental purpose of businesses to earn profits, driving their operational and strategic decisions.

Affordable Care Act

A comprehensive health care reform law enacted in March 2010, aimed at expanding health insurance coverage and reducing the costs of health care in the United States.

Societal Marketing Concept

A marketing approach that considers the welfare of society and the environment in addition to consumer wants and company needs.