Government can support agricultural prices by
A. paying farmers not to produce in particular fields.
B. paying farmers not to produce in particular fields and making it illegal to consume more than a specified amount.
C. lending farmers enough at subsidized interest rates to expand their production.
D. making it illegal to consume more than a specified amount.
Answer: A
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When inflation begins to rise, people can prevent their wealth from deteriorating by doing all of the following except
A) holding more cash. B) converting their cash into foreign currencies. C) spending their cash on goods and services. D) investing in financial instruments such as stocks or precious metals.
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
During the fiscal expansion associated with the Vietnam war, what type of expenditures was initially "crowded out?"
A) autonomous consumption B) nonresidential fixed investment C) residential construction D) nonresidential construction
Under a flexible exchange rate system, a decrease in the value of a domestic currency in terms of foreign currencies is referred to as
A) an appreciation. B) a depreciation. C) a devaluation. D) a revaluation.