The U.S. price support program, which guaranteed prices for currently grown crops:
A. ended with the passage of the Freedom to Farm Act of 1996.
B. began with the Grain Planting Act of 1914.
C. remains the core of U.S. farm policy.
D. was restored in full and expanded by the Food, Conservation, and Energy Act of 2008.
Answer: A
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Use the following information to answer the next question.The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment.Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month but still has not gotten a job offer.George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve.Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in
her aircraft design skills.Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year but was unsuccessful and quit looking for work.Which individual is cyclically unemployed? A. Jeanette B. Mollie C. Ricardo D. George
The exchange rate for a foreign currency that is determined by supply and demand is
A) a fixed exchange rate. B) a controlled exchange rate. C) a constrained exchange rate. D) a flexible exchange rate.
The practice of potential buyers offering lower prices for a product of uncertain quality than they would for a product of certain quality is known as: a. the lemon problem. b. moral hazard
c. external costs. d. None of the above.
Which of the following is a significant difference in the outcomes between the dictator game and the ultimatum game?
A. There is little difference, as fairness considerations lead to similar splits of the money in both games. B. The dictator game tends to result in a more even split of the money. C. The ultimatum game tends to result in a more even split of the money. D. Self-interest is revealed more strongly in the ultimatum game than in the dictator game.