Government farm subsidies in the U.S. reflect
a. the lack of urban population political clout
b. the adverse market consequences that could undermine farm stability and the national economy
c. the need for farmers to supply agricultural products in the world market
d. the U.S. Constitution that mandates farm subsidies
e. the concern that American food supply is unreliable
B
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Which produces more output: a perfectly price discriminating monopoly or a single-price monopoly?
What will be an ideal response?
The overall money supply would tend to increase if the Fed were to
A) increase the required reserve ratio. B) increase the discount rate. C) buy government bonds. D) exchange crisp dollar bills for worn and tattered dollar bills.
Jane wins $100,000 in a lottery and immediately uses her winnings to open up a donuts shop. Her direct cost is $50,000 . and she puts the remaining money in a savings account earning 10 percent annual interest. Alternatively, Jane could have placed all her lottery winnings in the 10 percent savings account. Jane's total cost of opening up a donuts shop is:
a. $60,000. b. $50,000. c. $160,000. d. $45,000. e. $55,000.
While tax cuts may increase productivity, the government is forced to redistribute the tax burden or cut its own spending
a. True b. False