Farm subsidies
A. enable industrial nations to export much of their agricultural output at artificially low prices.
B. in the world's richest nations amount to over $300 billion.
C. make it more difficult for less developed nations to purchase capital equipment from U.S. manufacturers such as Caterpillar.
D. All of the choices are true.
D. All of the choices are true.
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Suppose the market for a good is initially in equilibrium. Which of the following is most likely to happen if supply increases by a smaller amount than the increase in demand?
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Other things remaining the same, if an industry introduces a labor-complementary technology in production, the demand curve for labor in that industry is likely to:
A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.
Most wealthy governments give aid through:
A. the Federal Reserve. B. the United Nations. C. the Peace Corps. D. national development agencies or sectors of foreign affairs ministries.
Suppose that in 2011, 4 million plasma TVs were purchased at $950 each, while in 2012, 3 million plasma TVs were purchased at $800 each. What might have caused this change?
A. The price of LCD TVs (a substitute for plasma TVs) fell. B. The price of LCD TVs (a substitute for plasma TVs) rose. C. Plasma TV manufacturing technology increased. D. Plasma TV manufacturing technology decreased.