The U.S. sugar price support program has:
A. cost U.S. consumers much more than it has benefited U.S. sugar producers.
B. cost U.S. consumers much less than it has benefited U.S. sugar producers.
C. reduced the price of sugar to U.S. consumers.
D. increased sugar imports as a percentage of U.S. sugar consumption.
Answer: A
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In the simple Keynesian cross model with no government or foreign sectors, at the equilibrium level of output
A) saving is less than investment. B) saving is equal to investment. C) saving is greater than investment. D) saving is equal to zero.
Moving along the AS curve, when the price level increases, the
A) nominal wage rate falls, and there is an increase in the quantity of real GDP supplied. B) real wage rate rises, and there is an increase in the quantity of real GDP supplied. C) nominal wage rate rises, and there is a decrease in the quantity of real GDP supplied. D) real wage rate falls, and there is an increase in the quantity of real GDP supplied. E) real wage rate rises, and there is a decrease in the quantity of real GDP supplied.
In the above figure, at a price of $6, a perfectly competitive firm produces ________ and it ________
A) some output; incurs an economic loss B) 0; incurs an economic loss C) 0; does not incur an economic loss or make an economic profit D) 0; makes an economic profit
Regulatory forbearance
A) meant delaying the closing of "zombie S&Ls" as their losses mounted during the 1980s. B) had the advantage of benefiting healthy S&Ls at the expense of "zombie S&Ls," as insolvent institutions lost deposits to health institutions. C) had the advantage of permitting many insolvent S&Ls the opportunity to return to profitability, saving the FSLIC billions of dollars. D) increased adverse selection dramatically.