In what decade did the U.S. government first decide to intervene in the farm economy?
a. 1950s
b. 1930s
c. 1970s
d. 1960s
e. 1980s
B
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Capital stock will increase as long as
A) gross investment exceeds depreciation. B) capital deepening decreases. C) net investment equals zero. D) depreciation exceeds real GDP.
Which of the following will increase both money supply and money demand in the short run?
a. An open market sale of bonds by the Fed b. An open market purchase of bonds by the Fed c. An increase in government purchases d. A decrease in taxes e. An increase in autonomous consumption
As more satisfaction is achieved from consuming a good with diminishing marginal utility, then total utility
A. Increases at a decreasing rate. B. Is negative as long as marginal utility is decreasing. C. Decreases as long as marginal utility is negative. D. Decreases as long as marginal utility is positive.
GDP measured using current prices is called:
A. Nominal GDP B. Real GDP C. Constant GDP D. Deflated GDP