The Federal government has tried to eliminate agricultural surpluses by:
A. Decreasing supply and demand
B. Increasing supply and demand
C. Decreasing supply and increasing demand
D. Increasing supply and decreasing demand
C. Decreasing supply and increasing demand
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The desired reserve ratio helps determine the amount of money banks can create
Indicate whether the statement is true or false
Using tariffs to support diversification of a nation’s industrial structure
a. has little application to developing countries. b. is based on the need to protect high domestic wages. c. is based on the need to make the economy less vulnerable to demand fluctuations for its products. d. is designed to encourage specialization by the nation’s producers in just one or a few goods.
The per capita incomes of countries in the quartile with the most economic freedom during 1980-2010 were
a. slightly lower than those of the quartile of countries with the least economic freedom. b. about the same as the quartile of countries with the least economic freedom. c. about twice those of the countries with the least economic freedom. d. about eight times those of the quartile of countries with the least economic freedom.
In November 2016, General Motors produced a car that was delivered to a local dealership in December 2016. The auto was sold to Sharon Smith for personal use in February 2017. Following national income accounting practices, this car would be counted as:
A. investment in 2016 and disinvestment in 2017. B. consumption in 2016 and consumption in 2017. C. consumption in 2016 and investment in 2017. D. disinvestment in 2016 and consumption in 2017.