A comparison of a traditional price support program and the Brannan plan shows that
a. consumers would clearly prefer the traditional program.
b. farmers would clearly prefer the Brannan plan.
c. losses due to inefficiency are completely avoided under the Brannan plan.
d. the more elastic the supply and demand curves, the lower the relative cost of the Brannan plan will be.
e. All of the above.
d. the more elastic the supply and demand curves, the lower the relative cost of the Brannan plan will be.
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Interest rates will increase if the Fed conducts an open market purchase
Indicate whether the statement is true or false
If there is a monopsony operating in the labor market illustrated in the figure above, the equilibrium wage and quantity of labor hired is
A) $15 and 50 hours. B) $10 and 100 hours. C) $10 and 50 hours. D) $5 and 50 hours.
The U.S. central bank performs all the following roles for the nation EXCEPT
A. performing banking functions for their nations' governments. B. providing financial services for private banks. C. lending funds directly to the public. D. conducting the nation's monetary policies.
Refer to the given figure and assumptions. How many illegal immigrant workers will be hired at equilibrium?
(1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.
A. 200,000.
B. 250,000.
C. 350,000.
D. 450,000.