Asked by keith sanders on May 21, 2024
Verified
Which of the following has the highest farm subsidies as a percent of the value of production?
A) Japan
B) The European Union (EU)
C) The United States
Farm Subsidies
Financial assistance provided by government to farmers, intended to stabilize food prices, ensure a stable food supply, and support farmers' incomes.
Value of Production
The total worth of the goods and services produced by a company, industry, or economy.
- Evaluate the consequences of trade policies on the agricultural sector and agricultural subsidies.
Verified Answer
MB
Mason BrownMay 24, 2024
Final Answer :
A
Explanation :
Japan has historically had high levels of agricultural subsidies, particularly when compared as a percentage of the value of agricultural production. These subsidies are used to support domestic agriculture, ensuring food security and stabilizing farmers' incomes, which is a significant policy priority in Japan. The European Union and the United States also provide substantial agricultural subsidies, but as a percentage of the total value of agricultural production, Japan's subsidies are generally higher.
Learning Objectives
- Evaluate the consequences of trade policies on the agricultural sector and agricultural subsidies.