An effective price floor on wheat will:
A. force otherwise profitable farmers out of business.
B. result in a shortage of wheat.
C. result in a surplus of wheat.
D. clear the market for wheat.
Answer: C
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Which of the following statements is true?
A) Defending an overvalued currency is easier than defending an undervalued currency. B) Defending an undervalued currency is easier in the short run than in the long run. C) The nominal exchange rate is the ratio of the same basket of goods in two countries. D) The real exchange rate is calculated by dividing the nominal exchange rate by the inflation rate.
The Herfindahl-Hirschman Index measures an industry's concentration of
A) employment. B) sales. C) profits. D) productive capital.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 did not prohibit companies issuing securities from paying the credit-rating agencies to rate them. This is an example of which remedy of conflicts of interest?
A) regulate for transparency B) supervisory oversight C) leave it to the market D) socialization of information production
Refer to the table that presents Mike and Janet's demand for apples by the bushel. If they are the only two in the market, a market demand curve derived from this data would show quantity demanded is:Price per peckMike Quantity in pecksJanet Quantity in pecks$1226$2183$3140$4100$560
A. 21 at price = $1 and 17 at price = $2. B. 22 at price = $1 and 18 at price = $2. C. 28 at price = $1 and 21 at price = $2. D. 21 at price = $1 and 28 at price = $2.