Federal food distribution programs such as the food stamp program represent efforts to:
A. Increase supplies of agricultural commodities
B. Increase demand for agricultural commodities
C. Decrease the value of farming to the nation
D. Facilitate the movement of people from farms to cities
B. Increase demand for agricultural commodities
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The Phillips curve represents the trade-off between:
a. output and interest rates. b. inflation and expected inflation. c. output and unemployment. d. inflation and unemployment.
In the short run, a firm considers its fixed cost as a(n):
A. sunk cost. B. variable cost. C. implicit cost. D. marginal cost.
Price equals the minimum of long-run average cost
A) in a long-run equilibrium. B) in a short-run equilibrium as well as in a long-run equilibrium. C) whenever average revenue equals marginal cost. D) along a horizontal long-run supply curve, but not along an upward sloping long-run supply curve.
Why does the unemployment rate go down as more people become discouraged about the economy?
What will be an ideal response?