Federally provided agricultural subsidies in the United States have ________ with the passage of the 2002 Farm Security Act and the 2007 Food, Security, and Bioenergy Act.
A. been made a function of tax revenues
B. been abolished
C. increased to the level of EU price supports
D. been maintained
Answer: D
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If Kami can produce 40 portable power banks or 30 cellphones during a month's time, while Sally can produce 10 portable power banks or 20 cellphones, then it is correct to state that
A) Kami has a comparative advantage in producing portable power banks. B) Kami has a comparative advantage in producing both portable power banks and cellphones. C) Sally has a comparative advantage in producing both portable power banks and cellphones. D) Sally has an absolute advantage in portable power banks.
Joe has broken the mirror of my car. I have legal recourse to sue for damages because of
A) social costs. B) transactions costs. C) common property rights. D) private property rights.
The proposition that policy actions have no real effects in the short run if the policy actions are anticipated is known as
A. the unemployment stabilization proposition. B. the policy illusion proposition. C. the Keynesian proposition. D. the policy irrelevance proposition.
Refer to the figure below, which shows four different Lorenz curves (I, II, III, and IV). Which point would indicate that the top 40% of households earned 60% of the nation's total income?
A. a
B. b
C. d
D. e