A price support system:
a. establishes a price floor for a farm product
b. results in a surplus
c. is costly to taxpayers and consumers
d. all of the above
Answer: d. all of the above
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium consumption for this economy.
A. $3,350 B. $3,200 C. $3,000 D. $2,850
If the Fed's monetary policy causes a substantial decrease in interest rates, what is the most likely impact on velocity?
a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to interest rates.
Which of the following is most likely to favor tariffs on imports?
The creation of the dust bowl and the migration of the "Okies" to California took place in the
A. 1920s. B. 1930s. C. 1940s. D. 1950s.