Who actually benefits from a subsidy to sellers?
A. Only consumers benefit from any kind of subsidy.
B. Only sellers benefit, since it is their subsidy.
C. The benefit is shared depending on elasticity of the supply and demand curves.
D. None of these statements is true.
C. The benefit is shared depending on elasticity of the supply and demand curves.
You might also like to view...
A merger will be challenged by the FTC in a market where the Herfindahl-Hirschman Index (HHI) is ________, and the merger would increase it to ________
A) 2,900; 3,100. B) 1,700; 1,760 C) 800; 950 D) 2,000; 2,040
If nothing else changes but the velocity of money doubles in the economy, the price level will decrease
Indicate whether the statement is true or false
If you operated a small bakery, which of the following would be a variable cost in the short run?
A. Baking ovens. B. Interest on business loans. C. Annual lease payment for use of the building. D. Baking supplies (flour, salt, etc.).
Real gross domestic product is a measure of the:
A. Average price level in the economy B. Value of final output produced within a country in one year, using current prices C. Value of final output produced within a country in one year, adjusted for changing prices D. Total value of available resources in a nation