The major way that the government supports crop prices is by granting nonrecourse loans to farmers
Indicate whether the statement is true or false
True
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Between 2000 and 2015, advances in PC production technology increased the supply of PCs sharply. The demand for PCs also increased, but not nearly as much as the supply did
As a result, the price of a PC ________ and the quantity of PCs sold ________. A) rose; decreased B) rose; increased C) fell; decreased D) fell; increased
A functionally organized firm is one in which
a. Various divisions perform the same task b. Various divisions perform separate tasks c. Various divisions compete with each other d. Various divisions handle the same production function
The substitution effect of a wage decrease in the work-leisure model results in the worker choosing to
a. work less than before. b. work more than before. c. possibly work more or less than before. d. work more with a higher level of consumption.
If its exports are greater than its imports, then a country has a:
A. government budget surplus. B. trade surplus. C. government budget deficit. D. trade deficit.