What has been the market outcome of government-enforced price floors for agricultural products?
A) Not enough food has been produced.
B) Farmers have been made worse off.
C) A shortage of agricultural products has resulted.
D) A surplus of agricultural products has resulted.
D
You might also like to view...
Which statement is true regarding a market in equilibrium
a. There is a shortage of the good. b. There is a surplus of the good. c. Neither demanders or suppliers are satisfied. d. Both demanders and suppliers are satisfied.
If there are eight firms in a market and each has an equal market share, the Herfindahl-Hirschman Index (HHI) is ________ and the market is considered to be ________.
A) 1,250; moderately competitive B) 2,800; moderately competitive C) 1,250; competitive D) 2,800; competitive
Josiah installed a metal sculpture in his front yard. A positive externality arises if the sculpture
a. increases the value of other properties in the neighborhood. b. increases the value of Josiah's home c. is visually unappealing to Josiah's neighbors. d. creates a safety hazard for neighborhood children.
Assume that Johnson deposits $350 of currency in his account in the XYZ Bank. Later the same day Swanson negotiates a loan for $2,000 at the same bank. In what direction and by what amounts has the supply of money changed?
A. Decreased by $1,650. B. Increased by $2,000. C. Increased by $2,350. D. Decreased by $350.