Within the framework of the EU's Common Agricultural Policy, what does the variable import levy correspond to?

Show Answers

The difference between the EU’s guaranteed price and the global market priceThe margin by which the global market price surpasses the EU’s guaranteed priceThe fixed EU guaranteed priceThe price prevailing on the international marketNone of the above

Explanation

The variable import levy under the EU’s Common Agricultural Policy is based on the world market price, not the difference between the EU’s support price and the world price. Therefore, the correct answer is the world price.