The 1996 Farm Act
A. Reduced loan rates.
B. Increased the amount of set-aside acreage.
C. Called for a phaseout of farm subsidies.
D. Increased government support prices.
Answer: C
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Suppose real GDP grows at 7 percent per year and the population grows at 2 percent per year. How many years will it take for real GDP and real GDP per person to double?
What will be an ideal response?
Refer to the graphs shown.
If product demand increases from D1 to D2, causing the product price to increase, firm A (a supplier of this product) will:
A. decrease employment because its MRP curve will shift leftward. B. pay a lower wage rate and increase employment from q3 to q4. C. increase employment because its MRP curve will shift rightward. D. pay a higher wage rate and reduce employment from q2 to q1.
Based on the graph showing the effects of an investment tax credit or a technological change, enacting an investment tax credit would ______.
a. increase the demand curve for loanable funds
b. decrease the demand curve for loanable funds
c. increase the supply curve for loanable funds
d. decrease the supply curve for loanable funds
The recession of 1937-38 could be blamed on
A. the Roosevelt Administration's deficit spending. B. the Roosevelt Administration's attempt to balance the budget. C. the Federal Reserve's driving down interest rates. D. a large tax cut.