Historically, many aspects of U.S. farm policies had their origins in the:
A. Agricultural Extension Service Act.
B. Agricultural Adjustment Act.
C. Homestead Act.
D. Land Grant Act.
Answer: B
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A tradable government permit for the atmospheric release of a ton of sulfur dioxide can help reduce acid rain
a. True b. False Indicate whether the statement is true or false
Which of the following practices is restricted by the antitrust laws of the United States?
a. Merger of smaller firms into a large firm b. Entry of new firms in the long run c. Standardization of products in a market d. Exit of non-performing firms in the long run e. Quality differentiation by competitive firms
Suppose that for each automobile Japan produces it must forego producing 40 computers. The United States must forego producing 80 computers for each automobile it produces. Which of the following is true?
a. Japan has a comparative advantage in producing computers. b. the U.S. has a comparative advantage in producing computers. c. the U.S. has a comparative advantage in producing automobiles. d. the U.S. has an absolute advantage in producing automobiles. e. the opportunity cost of producing computers is the same for Japan and the U.S.
According to the paradox of thrift, when people try to save more, this causes
a. intended investment to automatically rise to match the change in the increased level of saving b. national income to rise causing saving to rise c. levels of income to remain unchanged causing saving levels to rise d. saving to be greater than intended investment, which causes national income to fall, causing saving to remain constant or actually fall e. saving to be less than investment, which causes national income to rise causing saving to rise