Under the deficiency payments system, which was used to subsidize grain production?
a. the government purchased all surplus grain and destroys it.
b. deficiency payments were increased when farmers cultivated their land more intensively.
c. farmers were required to reduce cultivated acreage by 10 percent.
d. farmers had a greater incentive to engage in beneficial crop rotation.
d. farmers had a greater incentive to engage in beneficial crop rotation.
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A sales tax will be divided so that
A) the buyers pay the full amount if supply is perfectly inelastic. B) the sellers pay the full amount if supply is perfectly inelastic. C) the sellers pay the full amount if supply is perfectly elastic. D) both buyers and sellers pay some of the tax if supply is perfectly elastic.
Why are most of the U.S. dollars held outside of the United States?
What will be an ideal response?
The agreement of the United States, Canada, and Mexico to eliminate tariffs on the shipment of most products among the three countries is called the
a. General Agreement on Tariffs and Trade. b. Uruguay Round. c. North American Free Trade Agreement. d. Tariff Reduction Act of 1993.
During spring break, students have an elasticity of demand for a trip to Las Vegas of ?5. How much should an airline charge students for a ticket if the price it charges the general public is $660? Assume the general public has an elasticity of ?3.
A. $792 B. $440 C. $352 D. $550