Price floors, when applied to agricultural markets, have
a. promoted the interests of consumers
b. reflected the government's desire for greater equality in the distribution of goods among consumers
c. created the need to print ration coupons
d. created excess supply, which meant that the government would have to buy the excess supply to keep the prices from falling below the price floor
e. created excess demand, which meant that the government had to prevent the price floor from rising above the equilibrium price
D
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Refer to Table 13-9. Suppose that the data in the table above reflects the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2012 and 2013?
a. 2%
b. 5%
?. 8%
d. 11%
e. 13%
The goals of monetary policy tend to be interrelated. For example, when the Fed pursues the goal of ________, it also can achieve the goal of ________ simultaneously
A) economic growth; a low current account deficit B) high employment; lowering government spending C) stability of financial markets; a low current account deficit D) high employment; economic growth
Can a change in the Japanese price level cause the United States to move downward along its J-curve?
A) Yes, if the Japanese price level falls and the United States does not buy more Japanese goods. B) Yes, if the Japanese price level falls and the United States buys more Japanese goods. C) Yes, if the Japanese price level rises and the United States does not buy significantly fewer Japanese goods. D) No, a change in relative price levels cannot initiate the J-curve phenomenon.
Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
A. The quantity of eggs demanded will increase. B. Egg demand will decrease. C. Egg supply will increase. D. Egg supply will decrease.