Which of the following increases the supply of corn?
a. Farmers that grow soybeans can also grow corn, and the price of soybeans drops by 75 percent.
b. Congress and the President eliminate subsidies formerly paid to corn farmers.
c. The farm worker's union successfully negotiates a pay increase for corn harvest workers.
d. The Surgeon General announces that eating corn bread contributes to baldness in men.
a
You might also like to view...
Which of the following statements is TRUE?
A) Real GDP fluctuates around potential GDP. B) Potential GDP fluctuates around real GDP. C) Potential GDP is the same as real GDP. D) When all of the economy's resources are fully employed, the value of production is called real GDP.
How might unemployment insurance increase the efficiency of labor markets and the economy? How might it reduce the efficiency of labor markets and the economy?
What will be an ideal response?
According to Williamson and Lindert, during the antebellum period increasing wealth concentration occurred in the U.S
a. within regions. b. within age groups. c. among the native born. d. among the foreign born. e. All of the above.
Table 5.3National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$8,200Exports$1,700Government purchases of goods and services$2,500Social Security taxes$1,900Net investment$1,400Indirect business taxes$1,400Imports$1,900Gross investment$1,800Corporate income taxes$600Personal income taxes$1,500Corporate retained earnings$130Net foreign factor income$100Government transfer payments to households$1600Net interest payments to households$500On the basis of Table 5.3, the value of the income aggregate that is defined as "total income earned by current factors of production" (also known as national income) is
A. $11,900 billion. B. $12,000 billion. C. $12,300 billion. D. $10,700 billion.