Describe the purpose of the Food, Conservation and Energy Act of 2008
What will be an ideal response?
The Food, Conservation and Energy Act of 2008 is designed to provide subsidies and aid for farmers. It continues to give farmers freedom to plant and provides direct payment approaches to farm policy. It has three basic types of subsides for agricultural commodities: First, it provides constant direct payments to farmers based on past crop production levels. The payments are unaffected by current crop prices or production and they do not decline. Second, there are counter cyclical payments that cover any gap if the market price of a commodity falls below the target price. Third, there are marketing loans that can provide additional subsidies. The legislation makes it clear that agriculture will continue to receive large government subsidies in spite of the excess production and market distortion arising from these subsidies.
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Which of the following best describes the relationship between the velocity of money and the demand for money?
a. The demand for money is not related to the velocity of money. b. When the demand for money increases, the velocity of money increases. c. The demand for money must be stable for the velocity of money to increase. d. When the demand for money declines, the velocity of money increases.
Profit-maximizing, competitive firms will not discriminate in the hiring of workers unless consumers exercise a preference for discrimination in product markets or governments mandate discrimination
a. True b. False Indicate whether the statement is true or false
Consider the three aggregate demand curves shown in the graph. Movement from Point A to Point D represents:
What will be an ideal response?
In terms of an economic contribution, building a football stadium
A. has been shown to be futile. The team leaves anyway. B. with public dollars has never been shown to enhance a community's economy. C. to attract a team has always been a successful strategy in growing an community's economy. D. to keep a team that would otherwise leave has always been a successful strategy in growing an community's economy.