Since the 1930s, the U.S. government has supported agriculture with a "farm program" that includes the following, except:
A. Price ceilings for farm products
B. Agricultural research
C. Farm crop insurance
D. Soil and water conservation
A. Price ceilings for farm products
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What two conditions are met when a consumer is maximizing utility?
What will be an ideal response?
A key characteristic of the production function in the endogenous growth model presented in the text is that
A) there are increasing returns to scale in human capital. B) there are decreasing returns to scale in human capital. C) there are constant returns to scale in human capital. D) at low levels of human capital, there are increasing returns to scale in human capital, while at high levels of human capital, there are decreasing returns to scale in human capital.
If two small perfectly competitive firms merge, the merged firm will be:
a. a price-taker. b. a market leader. c. a price-discriminator. d. an oligopoly.
The signaling theory of education suggests that when people earn a college degree they do not become more productive, but they do signal their high ability to prospective employers
a. True b. False Indicate whether the statement is true or false