Answer the following statement true (T) or false (F)
1) If prices received by farmers decline and prices paid by farmers increase, the parity ratio will
decline.
2) The Food, Conservation, and Energy Act of 2008 provides three types of agricultural
subsidies: direct payments, countercyclical payments, and marketing loans.
3) The federal government has not paid subsidies to farmers since passage of the Freedom to
Farm Act in 1996.
4) Environmentalists generally support price supports because these subsidies motivate
additional farm production.
5) The principal beneficiaries of government agricultural aid have been the very low-income
farmers.
1) T
2) T
3) F
4) F
5) F
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The figure below shows the supply and demand curves for oranges in Smallville. 
At a price of $4 per pound there will be an excess ________ of ________ pounds of oranges per day.
A. demand; 20 B. supply; 20 C. demand; 30 D. supply; 10
In the United States in 2014, about seventy percent of those who were not covered by health insurance
A) live in families in which at least one member has a job. B) live in families in which all members are unemployed. C) are single and unemployed. D) are retired from the workforce.
When the price level falls
A. aggregate demand shifts to the left. B. all prices of individual goods and services decrease. C. aggregate demand shifts to the right. D. aggregate quantity demanded increases.
In recent years, many DVCs have come to realize that:
A. Expanded international trade is harmful to DVCs B. Private capital investment is essential for economic growth in DVCs C. The International Monetary Fund is the major institutional barrier to economic growth D. Government involvement in economic development is the only avenue for economic growth