HW 3 Due: Thursday, Mar 21 Who should complete this assignment? Completed GIS Hw: If you meet this criteria, then you do not need to complete hw 3. However, if you choose to do so, then the lower score of the two will be extra credit. Did not complete GIS HW: You must complete HW 3. Assignment Three Max: 16 points 1) Read the following articles found under the readings icon under MODULE THREE. They can be found under the category Cotton Subsidies within the folder Subsidies. i) Cotton Subsidy Challenges (2004) ii) Cotton Subsidy Case (2004) iii) Cotton Aid Ruling (2004) iv) Cotton Club (2004) v) Subsidies (2007) – this is under the folder Subsidies, not in the cotton subsidies folder 2) Answer the following questions: a) According to the articles, does the U.S. have a comparative advantage in cotton? Explain. b) How do agricultural subsidies affect the pattern of international trade? c) Discuss the relationship between the subsidies and economic efficiency. d) Discuss the politics of the U.S. agricultural subsidies. Within the U.S., which group is harmed by the subsidies? Which group benefits from the subsidies? 3) Research: You will have to look around for information to answer the following questions: a) Provide some basics of the 2008 Farm Bill. (Hint: To get you started, there is an article titled “Budget (2011) in the folder “Other Agriculture” in the readings section of MODULE THREE. There is also a link under the Links section.) b) What did the 2008 Farm bill say, if anything, about agricultural subsidies?