In a move to free the economy from unnecessary regulation, Congress decides to remove sugar price supports. What would most likely happen to the number of producers of sugar?
a. It would decrease, because sugar prices would fall.
b. It would decrease, because sugar prices would rise.
c. It would increase, because sugar prices would fall.
d. It would increase, because sugar prices would rise.
a
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The table shows some data that describes Tom's T-Shirts' total product when Tom's has 1 sewing machine. When 4 workers are employed, ________
A) average product of labor is a maximum B) marginal product of labor is less than average product of labor C) marginal product of labor exceeds average product of labor D) marginal product of labor equals average product of labor
How could the existence of an unemployment insurance system or other transfer programs have reduced the severity of the Great Depression?
What will be an ideal response?
Suppose that the current exchange rate between the dollar and peso is $1 equals 10 pesos. If a firm in Mexico wanted to purchase $100,000 worth of U.S. televisions, how many pesos must they exchange?
A) 10,000 pesos B) 100,000 pesos C) 1,000,000 pesos D) 11,000,000 pesos
The real interest rate is defined as the:
a. fixed rate on consumer loans. b. nominal interest rate minus the inflation rate. c. actual interest rate. d. expected interest rate minus the inflation rate.