(Consider This) Which of the following methods is used by farmers to "hedge" against short- run price and output fluctuations?
A. Securing prices for their output in the futures market.
B. Purchasing crop revenue insurance to insure against natural disasters.
C. Leasing land to other farmers in return for stable rent payments.
D. All of these risk-management techniques are used.
Answer: D
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Something whose value does not change is a:
A) variable. B) constant. C) hypothesis. D) all of the above.
The lowest sustainable rate of unemployment that policy makers believe is achievable under existing conditions is:
A. called the optimal rate of unemployment. B. called the target rate of unemployment. C. called cyclical unemployment. D. zero.
If the consumption function is below the 45-degree line
A. consumption is less than income and saving is negative. B. consumption exceeds income and saving is positive. C. consumption is less than income and saving is positive. D. consumption exceeds income and saving is negative.
Refer to the information provided in Figure 5.5 below to answer the question that follows.
Figure 5.5Refer to Figure 5.5. As the price of good W increased, the demand for good Y shifted from D1 to D2. The cross-price elasticity of demand between W and Y is
A. negative. B. zero. C. positive. D. indeterminate from this information.