A government agricultural policy in which a mandated minimum price is set is the
A) marketing quota system.
B) acreage allotment program.
C) price support program.
D) target price system.
E) paying farmers not to produce system.
C
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Refer to Table 9-11. Which country has an absolute advantage in producing hats?
A) Belize B) Denmark C) both countries D) neither country
In general, each additional year of schooling is worth about:
A. 10 percent more in overall earnings over the course of a lifetime. B. 5 percent more in overall earnings over the course of a lifetime. C. 25 percent more in overall earnings over the course of a lifetime. D. 50 percent more in overall earnings over the course of a lifetime.
Figure 11-3
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In Figure 11-3, if person 1 and person 2 have the indicated quantities of cheese and crackers and are on the indicated indifference curves, is there the possibility of mutually beneficial trade? Explain.
What will be an ideal response?
If the Federal Reserve wishes to increase the money supply by $30,000 and the reserve requirement ratio is 0.4, how big a purchase of bonds will the Fed need to make?
a. $75,000 b. $12,000 c. $1,000 d. $30,000 e. $3,000