Explain how agricultural price supports work and what the effects of the supports are
What will be an ideal response?
Under agricultural price supports, the government sets the price of an agricultural product above the equilibrium price. Consequently, there is an excess quantity of the product supplied. To keep the price at the floor level, the government must buy the surplus. Hence, consumers pay higher prices for the product, and taxpayers pay higher taxes to fund the government's purchases of the product.
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What is the main purpose of an interest payment? What major factors affect interest rates?
What will be an ideal response?
The entity that purchases a bond is called the
a. debtor b. creditor c. bond-purchasing agent d. bond licensee e. c and d
Consider the following: there are two countries, A and B. Each country has the same resources, and produces the same goods. The residents of country A use money; the residents of country B rely on bartering of goods. Will each country produce the same quantity of output? Explain.
What will be an ideal response?
What are some of the sources of cost savings for business start-ups in the U.S. economy such as Google, Intel, Starbucks, and Microsoft?
Please provide the best answer for the statement.