What receives government subsidies that are in place to protect the population rather than for economic reasons?
What will be an ideal response?
Answer: small farmers in France
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Which of the following is a stock variable?
A) money supply B) wealth C) public debt D) all of the above
Consider two points on the PPF: point A, at which there are 10 apples and 20 pears, and point B, at which there are 7 apples and 21 pears. If the economy is currently at point A, the opportunity cost of moving to point B is
A) 1 pear. B) 7 apples. C) 3 apples. D) 21 pears.
If consumption and investment spending decline, then state and local government spending is likely to
A. Decline, leading to less economic instability. B. Increase, leading to less economic instability. C. Increase, leading to more economic instability. D. Decline, leading to more economic instability.
When all costs and benefits in a cost-benefit analysis do not occur at the same point in time, a discount rate is used to _____
a. reduce the future costs and benefits relative to current costs and benefits b. increase future costs and benefits relative to current costs and benefits c. increase current costs relative to future benefits d. reduce future costs relative to current costs