Suppose that the federal government provides wheat farmers with a price floor above the market equilibrium price of wheat, creating a surplus. Which of the following causes a reduction in the surplus of wheat?

a. An increase in the supply of wheat.
b. An increase in the price of wheat.
c. A decrease in the demand for wheat.
d. Elimination of the price floor.


d

Economics

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For a person who owns and operates an automobile, insurance premiums are a __________ and maintenance and repairs are a __________

a. revenue; cost b. fixed cost; fixed cost c. variable cost; variable cost d. variable cost; fixed cost e. fixed cost; variable cost

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How many countries are in the Euro area?

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Economics