The agricultural price support program in the United States has resulted in:
A. Declining average farm income
B. Surpluses of price-supported farm commodities
C. Shortages of price-supported farm commodities
D. A gradual migration of people from farms to cities
B. Surpluses of price-supported farm commodities
You might also like to view...
According to this Application, during the late 1980s, Argentina pegged its currency to the U.S. dollar. When the dollar appreciated sharply on world markets after 1995, this caused a large trade deficit in Argentina because
A) Argentina could no longer afford to purchase as many imported products. B) Argentinean exports grew relative to the nation's imports. C) U.S. exports to Argentina declined. D) Argentinean exports became relatively more expensive in global markets.
Refer to Scenario 17-1. Following the passage of comparable worth legislation, Unity College responds by placing salaries at $65,000. Which of the following is the result of the legislation?
A) The supply of English professors increases and the supply of business professors decreases. B) There will be a surplus in the market for English professors and the market for business professors will not be affected. C) There will be a surplus in the market for English professors and a shortage in the market for business professors. D) The demand for English professors decreases and the demand for business professors increases.
If you real disposable income goes up by $1000 per week, and your real consumption spending goes up by $800 per week, you have an MPS of
A) 0.2. B) 0.8. C) 1.2. D) 1.0.
A decrease in the number of consumers in a market causes market demand to:
A. decrease, resulting in a surplus which will be eliminated as price falls. B. increase, resulting in a shortage which will be eliminated as price rises. C. increase, resulting in a shortage which will be eliminated as price falls. D. decrease, resulting in a surplus which will be eliminated as price rises.