Virtually all nations provide import protection for domestic agricultural interests:
I.And the GATT Agreement specifically prohibits such protection with no exceptions.
II.And this problem exists because nations try to provide market stability and protection for farmers.
A) I only.
B) II only.
C) Both I and II.
D) Neither I nor II.

Question

Quizplus · Accepted Answer

The statement "the GATT Agreement specifically prohibits such protection with no exceptions" in option I is incorrect. GATT does allow for certain exceptions to import protection. Option II is true, nations do try to protect their domestic agricultural interests to ensure market stability for their farmers.

Virtually All Nations Provide Import Protection for Domestic Agricultural Interests