The 1996 Farm Act
A. Further deregulated the farming industry.
B. Abolished the subsidy programs for all farm products.
C. Reregulated the farming industry.
D. Increased the amount of acreage set-asides.
Answer: A
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A perfectly competitive firm's output is currently such that its marginal revenue is $5 and marginal cost is $4. Assuming profit maximization, the firm should
A. cut price and increase output. B. raise price and decrease output. C. leave price unchanged and decrease output. D. leave price unchanged and increase output.
Decreases in the stock of capital will lead to
A) decreases in wages and GDP. B) increases in wages and total GDP. C) decreases in wages and increases in GDP. D) increases in wages and decreases in GDP.
The use of hospitals today is dominated by
A) the elderly. B) immigrants. C) obstetrical care. D) the wealthy.
Lack of property rights =
What will be an ideal response?