The purpose of a crop limitation program is to
a. increase the demand for farm goods
b. decrease the demand for farm goods
c. increase the supply of farm goods
d. decrease the supply of farm goods
e. reduce the excess demand resulting from a price ceiling program
D
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The above figure depicts the Edgeworth box for two individuals, Al and Bruce. The contract curve can be found by connecting points
A) a and b. B) a and c. C) b and d. D) c and d.
A price-discriminating firm will always maximize profit by following the condition that
a. MR > MC. b. MR > P. c. MRa = MRb = MC. d. MR = ATC.
Contractionary fiscal policy is deliberate government action to influence aggregate demand and the level of real GDP through:
a. expanding and contracting the money supply. b. encouraging business to expand or contract investment. c. regulating net exports. d. decreasing government spending or increasing taxes.
Which of the following is most important if a country wants to move from a low-income to a high-income status?
a. high rates of monetary growth. b. sustained economic growth. c. high real interest rates. d. high nominal interest rates.