Government intervention in the farm economy that aims to create for farmers a constant or near constant level of purchasing power is called
a. partial rationing
b. parity pricing
c. income allotments
d. price ceilings
e. deficiency subsidization
B
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Which statement is most accurate about the U.S. between 1800-1860?
a. New states were always permitted to choose whether they wanted to be free or slave states. b. Slaves were prohibited from the western territories and new states. c. The threat of having their jobs replaced by slaves led many southerners to unionize. d. The total value of slaves in the U.S. increased substantially after the slave trade was stopped in the early 1800s.
Economists who favor bigness in firms point to which of the following to support their argument?
a. economies of scale b. perfect competition c. need for antitrust d. advantages of marginal cost pricing e. constant returns to scale
Some economists advocate taxes on land because such taxes:
A. do not affect the supply of land. B. increase the supply of land. C. improve the allocation of land by shifting it from low-productivity to high-productivity uses. D. have a positive incentive function.
U.S. imports of sugar are limited by an import quota that, according to a study updated in 2013, imposed a total cost on American consumers close to $________, or an average cost of ________ per year for every man, woman, and child in the country
A) $3 billion; $10 B) $105 million; $3 C) $2 billion; $110 D) $3 billion; $2,000 E) $370 million; $2,000