Which of the following provides the most reasonable explanation for why agricultural interests lobby for higher farm subsidies and price supports?
a. Without the farm subsidies, food shortages would result.
b. Subsidies promote the efficient use of agricultural resources.
c. Agricultural interests seek a redistribution of income favoring themselves.
d. The price support programs reduce food costs, which helps the poor.
C
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Discrimination that occurs when someone assigns the properties of a group to a particular individual who is a member of that group is known as
A) taste-based discrimination. B) indirect discrimination. C) justifying discrimination. D) statistical discrimination.
Because the United States is a developed economy, every other country is catching up to the level of U.S. real GDP per person
Indicate whether the statement is true or false
Which of the following did not contribute to the farmer's worsening terms of trade during the period of 1875-1895?
a. A rapid increase in the supply of agricultural products. b. Output increases as a result of technological change during the period. c. A rise in demand for U.S. crops after the Civil War. d. The income elasticity of demand for most agricultural crops was less than one.