Subsidies are very common in almost all countries. The United States and the European Union subsidize the

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Subsidies are very common in almost all countries. The United States and the European Union subsidize the production of many agricultural products and dump their surpluses on the world market. This action lowers the prices that farmers in developing nations receive and weakens the incentive to expand farming in poor countries. India and Europe have been suspected of dumping steel in the United States.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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