If the government created a surplus of an agricultural product due to price supports, how might they dispose of this surplus?
A) give it away to a foreign country
B) purchase it and store it away
C) have the farmer destroy the crop
D) Any of these answers might be a successful tool in disposing of agricultural surpluses.
Answer: D
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A decrease in the real interest rate outside of the United States will ________ the demand for the dollar and ________ the demand for foreign financial assets
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
The present value of $1 payable in the future decreases
a. the higher r is and the sooner it is to be paid. b. the lower r is and the sooner it is to be paid. c. the higher r is and the longer time until it is paid. d. the lower r is and the longer time until it is paid.
GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year b. All intermediate goods and services produced in an economy in a given year c. All final goods and services produced in an economy in a given year d. All expenditures on consumption, investment, and net exports in an economy in a given year
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.