Recall the Application about the policies used by the European Union to support the agricultural sectors of is member countries to answer the following question(s). According to this Application, in recent years the European Union has reformed its agriculture policies by reducing or eliminating minimum prices. Ceteris paribus, these policy reforms would ________ excess supply by ________ prices.
A. reduce; raising
B. reduce; lowering
C. increase; raising
D. increase; lowering
Answer: B
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Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
Cisco is considering opening a financial institution that accepts savings deposits from only its employees and makes loans to only its employees. The best description of this financial institution is that it is a
A) credit union. B) savings and loan association. C) federal government chartered credit bank. D) commercial bank. E) savings bank.
Foreign aid got its start after World War II when:
A. several European countries began offering aid to help one another recover. B. the U.S. gave $12 billion to help rebuild several European countries. C. the UK gave $12 billion to help rebuild several European countries. D. several European countries gave $12 billion in reparations.
As a person consumes more and more slices of pizza, the marginal utility of each extra slice diminishes
Indicate whether the statement is true or false