A program of countercyclical payments is best classified as a federal
A) Price support program.
B) Farm cost subsidy.
C) Income support program.
D) Acreage set-aside.
Answer: C) Income support program.
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Suppose you are very picky about your outdoor BBQ experiences --- and you need exactly 1 cup of lighter fluid for each bag of charcoal you use. If you have either leftover charcoal or leftover lighter fluid, you simply discard it.
a. Letting cups of lighter fluid be denoted as 
and bags of charcoal as 
, give the simplest possible utility function that captures your tastes.
b. Suppose that your favorite charcoal has just gotten better because the producer has infused the charcoal with half a cup of lighter fluid per bag. How does your answer to (a) change?
What will be an ideal response?
If net foreign investment is negative, which of the following must be true?
A) Net exports are positive. B) Domestic investment must be greater than national saving. C) Private saving is greater than public saving. D) Capital outflows are greater than capital inflows.
Cost curves in the long run differ from cost curves in the short run
a. True b. False Indicate whether the statement is true or false
If the long-run aggregate supply curve is vertical, fiscal policy will have no effect on the price level.
Answer the following statement true (T) or false (F)