The Commodity Credit Corporation was created by the
a. Federal Reserve Act
b. United States Constitution
c. Agricultural Adjustment Act
d. New Deal
e. Great Society
C
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An example of a firm in monopolistic competition is
A) your local water company. B) the sole cable television company. C) the many Chinese restaurants in San Francisco. D) Kansas Power and Light, the sole provider of electricity in Kansas City. E) Shaniq, a wheat farmer.
Successful product differentiation by a monopolistically competitive firm makes the demand curve, faced by the firm, steeper
a. True b. False Indicate whether the statement is true or false
Anna is expecting a child but has decided that she is not ready to be a mother. She chooses to sell her newborn to Bob and Sue, a couple who have been unable to conceive a child of their own but want one desperately. This is an example of a trade that:
A. should be permitted as long as each party enters into the agreement voluntarily. B. may benefit each party but may not be permitted in a society that believes selling babies is morally wrong. C. would never be permitted in any society. D. may benefit each party but cannot be considered efficient.
Expansionary policy that followed the 2008 recession:
A. did not reduce unemployment as much as desired. B. led to higher inflation rates than expected. C. did not reduce the trade deficit as much as desired. D. led to higher growth rates than expected.