Congress passed the Freedom to Farm Act in 1996. What was the purpose of this Act?
A) to encourage more people to become farmers
B) to phase out the use of price ceilings in agricultural markets
C) to phase out price floors and return to a free market in agriculture
D) to grant free land to farmers in order to produce crops that were particularly scarce
C
You might also like to view...
Which of the following is an example of a monopolistically competitive market?
A) The market for wheat B) The market for coffee beans C) The market for shampoo D) The market for premium cars
The dummy variable trap is an example of
A) imperfect multicollinearity B) something that is of theoretical interest only C) perfect multicollinearity D) something that does not happen to university or college students
The change in saving divided by the change in income is the
a. ratio of saving to income b. same as saving divided by income c. average propensity to save d. marginal propensity to consume e. marginal propensity to save
Exhibit 3-4 Supply curves
In Exhibit 3-4, a shift in the supply curve from S1 to S2 represents a(n):
A. decrease in supply. B. decrease in the quantity supplied. C. increase in supply. D. increase in the quantity supplied.