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.
Answer: D
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In an economy in which real output grows at an average rate of 3 percent per year, a 7 percent average rate of growth in the money supply would result in a(n): a. inflation rate of 4 percent, if velocity of money in circulation is constant. b. inflation rate of -4 percent, if velocity of money in circulation is constant. c. $7 increase in the price level each year
d. $7 decrease in the price level each year. e. increase in the velocity of money in circulation.
Under socialism, no markets can operate at all
a. True b. False Indicate whether the statement is true or false
Refer to the scenario above. Which of the following is true in this case?
A) Firm A's dominant strategy is to choose Strategy X. B) Firm B's dominant strategy is to choose Strategy Y. C) Firm A chooses Strategy X if Firm B chooses Strategy Y. D) Firm A chooses Strategy Y if Firm B chooses Strategy Y.
Voluntary programs are dependable ways to protect the environment
a. True b. False Indicate whether the statement is true or false