Which of the Following Long-Term Multilateral Agreements Stipulates the Minimum

question 19

Multiple Choice

Which of the following long-term multilateral agreements stipulates the minimum price at which importing nations agree to buy and a maximum price at which exporting nations agree to sell specified amounts of the commodity?

• A)Buffer stock
• B)Export controls
• C)Purchase contracts
• D)Marketing Board

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Definitions:

Predictability

The characteristic of a process, principle, or system that enables it to be known or declared in advance, especially through the application of scientific or logical techniques.

Probability

A measure of the likelihood that an event will occur, often quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Liberty

The state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

State

An organized political community living under a government; can also refer to the condition or mode of being.