Government can support agricultural prices by
A. subsidizing imports of a particular crop and buying up all output that consumers do not buy at the supported price.
B. making it illegal to consume more than a specified amount.
C. buying up all output that consumers do not buy at the supported price.
D. subsidizing imports of a particular crop.
Answer: C
You might also like to view...
Which of the following statements is true?
A) Producer surplus measures the total benefit received by producers from participating in a market. B) When a market is in equilibrium consumer surplus equals producer surplus. C) Consumer surplus measures the total benefit from participating in a market. D) Consumer surplus measures the net benefit from participating in a market.
________ assume the risk of issuing a new stock in the hope of earning profits on its sale
A) Stock brokers B) Securities dealers C) Underwriters D) Stock speculators E) Reinsurers
Which of the following does GDP omit?
A) Jack purchases $2,300 worth of stock in company X. B) Bob mows his lawn and washes and irons his shirts. C) Helen receives $4,000 a year in Social Security payments. D) a and b E) a, b, and c
Refer to the figure above. Other things remaining the same, assume that the individual now has a higher opportunity cost of time. Which of the following statements is true in this context?
A) Optimization in levels will not lead to an efficient outcome. B) The cost curve will move u