Which of the following was an unintended consequence of the subsidies and mandated expansion in output of gasoline produced from corn-based ethanol?
a. higher food and grain prices.
b. a reduction in the demand for battery powered automobiles because of the low prices of gasoline produced from ethanol.
c. sharply lower prices for feed grains because of a reduction in the demand for corn.
d. a substantial reduction in crude oil prices because of the low-cost production of gasoline from ethanol.
a. higher food and grain prices.
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Using the data in the above table, what is the marginal product of the third employee?
A) 2 pizzas per hour B) 3 pizzas per hour C) 4 pizzas per hour D) 12 pizzas per hour
The national concentration ratio
A) underestimates concentration for both the newspaper and the automobile industries. B) overestimates concentration for both the newspaper and the automobile industries. C) underestimates concentration for the newspaper industry and overestimates it for the automobile industry. D) overestimates concentration for the newspaper industry and underestimates it for the automobile industry.
At an interest rate of 5 percent, the present value of $1,000 to be received three years from today is
A) less than $875. B) between $875 and $925. C) between $925 and $975. D) more than $975.
The practice of medicine in the United States came under widespread regulation _____
a. before the Civil War b. between the Civil War and World War I c. between World War I and World War II d. after World War II