Question

6. Recent WTO negotiations covered agricultural subsidies. What progress was made at the most recent meetings in Hong Kong? A) Higher-income nations pushed for an end to agricultural subsidies but did not get them. B) Lower-income nations pushed for an end to agricultural subsidies; no progress was made on that, but some concessions were made in light manufactured goods imports from poor nations. C) The Hong Kong meetings were disrupted by protesters and had to be called off. D) The WTO members agreed to eliminate all subsidies for every nation. SCENARIO: FREEDONIAN EXPORTS In the small country of Freedonia, the domestic demand for widgets is represented by $P =$ $100 - 3Q$; the home supply of widgets is represented by $P = 1Q$. 7. (Scenario: Freedonian Exports) Is the subsidy paid to Freedonias's widget exporters considered part of the deadweight losses of the subsidy? A) Yes, they are a payment to Freedonian exporters. B) Yes, they are paid by Freedonian exporters that supply the domestic market. C) No, they are a redistribution of income within the Freedonian economy. D) No, consumers of Freedonian widget exports pay the subsidies.

          6. Recent WTO negotiations covered agricultural subsidies. What progress was made at
the most recent meetings in Hong Kong?
A) Higher-income nations pushed for an end to agricultural subsidies but did not get
them.
B) Lower-income nations pushed for an end to agricultural subsidies; no progress was
made on that, but some concessions were made in light manufactured goods
imports from poor nations.
C) The Hong Kong meetings were disrupted by protesters and had to be called off.
D) The WTO members agreed to eliminate all subsidies for every nation.
SCENARIO: FREEDONIAN EXPORTS
In the small country of Freedonia, the domestic demand for widgets is represented by $P =$
$100 - 3Q$; the home supply of widgets is represented by $P = 1Q$.
7. (Scenario: Freedonian Exports) Is the subsidy paid to Freedonias's widget exporters
considered part of the deadweight losses of the subsidy?
A) Yes, they are a payment to Freedonian exporters.
B) Yes, they are paid by Freedonian exporters that supply the domestic market.
C) No, they are a redistribution of income within the Freedonian economy.
D) No, consumers of Freedonian widget exports pay the subsidies.

6. Recent WTO negotiations covered agricultural subsidies. What progress was made at
the most recent meetings in Hong Kong?
A) Higher-income nations pushed for an end to agricultural subsidies but did not get
them.
B) Lower-income nations pushed for an end to agricultural subsidies; no progress was
made on that, but some concessions were made in light manufactured goods
imports from poor nations.
C) The Hong Kong meetings were disrupted by protesters and had to be called off.
D) The WTO members agreed to eliminate all subsidies for every nation.
SCENARIO: FREEDONIAN EXPORTS
In the small country of Freedonia, the domestic demand for widgets is represented by P =
100 - 3Q; the home supply of widgets is represented by P = 1Q.
7. (Scenario: Freedonian Exports) Is the subsidy paid to Freedonias's widget exporters
considered part of the deadweight losses of the subsidy?
A) Yes, they are a payment to Freedonian exporters.
B) Yes, they are paid by Freedonian exporters that supply the domestic market.
C) No, they are a redistribution of income within the Freedonian economy.
D) No, consumers of Freedonian widget exports pay the subsidies.

Added by Kyle J.

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