The U.S. sugar program has:
A. improved the world allocation of agricultural resources.
B. caused the world price of sugar to rise above its domestic price.
C. increased domestic sugar production.
D. lowered the incomes of U.S. sugar growers.
Answer: C
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If a currency increases in value as a result of government decree rather than market forces, the process is known as
A. reflation. B. revaluation. C. appreciation. D. value-added.
The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's markup is ________ per calculator
A) zero B) $2 C) $4 D) $6
As a currency depreciates:
A) exports increase and imports decrease. B) exports decrease and imports increase. C) exports increase and imports increase. D) exports decrease and imports decrease.
In a fully-funded social security program
A) the young pay for the benefits of the old. B) the young are forced to save for their own retirement. C) the young have to buy bonds for the old. D) the young are forced to save for the retirement of the old.