The effect of higher prices from the domestic sugar beet program in the United States is:
A. Economically efficient because it maintains the income of sugar beet farmers and reduces potential unemployment costs
B. That it discourages the production of sugar beets in the United States because businesses cannot afford to use sugar beets in production
C. That it increases exports of sugar beets from the United States to other nations
D. "Regressive" because low-income households spend a larger percentage of their income on food than do high-income households
D. "Regressive" because low-income households spend a larger percentage of their income on food than do high-income households
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Explain why resources are used efficiently in a competitive market
What will be an ideal response?
When the domestic currency depreciates, domestic goods become more expensive to foreign buyers
a. True b. False Indicate whether the statement is true or false
Explicit price fixing:
A. is illegal in the U.S. and in the European Union. B. is illegal only in the United States. C. is illegal only if the firms engage in punishment strategies. D. has not occurred in recent years.
The act of Congress which prohibited "unfair or deceptive acts or practices in commerce" is called
A. the Federal Trade Commission Act of 1914. B. the Sherman Act. C. the Clayton Act. D. the Robinson-Patman Act.