Which device has the European Union used to equalize farm-product import prices with politically determined European Union prices,regardless of shifts in world prices?
A) Variable levies
B) Import quotas
C) Import subsidies
D) Domestic content regulations

Question

Quizplus · Accepted Answer

Variable levies are taxes that are placed on imported goods and are designed to adjust prices to match domestic prices. The European Union has used variable levies to equalize farm-product import prices with politically determined European Union prices, regardless of shifts in world prices. This has helped to protect European Union farmers by making imported products more expensive and less competitive, while also generating revenue for the European Union.

Which Device Has the European Union Used to Equalize Farm-Product