The purchasing power of farmers is determined by the
a. quantity of farm goods that a dollar can buy
b. quantity of nonfarm goods that a dollar can buy
c. quantity of nonfarm goods that a unit of farm goods can buy
d. subsidies farmers receive from the government in the form of price ceilings on farm goods
e. ratio of their incomes to the incomes of nonfarm producers
C
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Fiscal policy has a greater impact in a closed economy than it does in an open economy
Indicate whether the statement is true or false
The optimal amount of pollution is NOT zero because
A) it has been found that pollution in moderate amounts actually has positive benefits. B) there are no benefits to anyone from having zero pollution. C) zero pollution would be too costly. D) we don't have the political structure that could accomplish the goal.
Consumer Sovereignty
What will be an ideal response?
The sole mission of the European Central Bank at the time of its creation was
A. to increase saving. B. to control inflation. C. to reduce long-term interest rates. D. to boost employment.