Which device has been used by the International Wheat Agreement to stipulate the minimum prices at which importers will buy stipulated quantities from producers and the maximum prices at which producers will sell stipulated quantities to importers?
A) Buffer stocks
B) Export controls
C) Multilateral contracts
D) Production controls

Question

Quizplus · Accepted Answer

The International Wheat Agreement has used multilateral contracts to stipulate the minimum and maximum prices at which importers will buy stipulated quantities from producers and the maximum prices at which producers will sell stipulated quantities to importers. This agreement was created to stabilize wheat prices globally and avoid excessive volatility in the market.

Which Device Has Been Used by the International Wheat Agreement