If the government establishes a target price of $5, how much will the total deficiency payment to farmers be?
a. $3000 million
b. $1500 million
c. $750 million
d. none, no deficiency payment will be necessary
Answer: a. $3000 million
You might also like to view...
Outputsinclude goods but not services.
Answer the following statement true (T) or false (F)
During the recession phase of the business cycle
A) unemployment is usually falling. B) production is usually rising. C) interest rates are usually falling. D) income is usually rising.
Active stabilization policy can be rationalized in the New Keynesian model because
A) it makes it possible to obtain zero inflation. B) the government knows best. C) it counteracts the influence of unions. D) it allows a faster return to economic efficiency.
Between 1790 and 1860, Southern population growth was dominated by growth in the slave population
Indicate whether the statement is true or false