Who ultimately benefits from price supports in agriculture?
A) consumers
B) grocery store owners
C) farmers
D) exporters
Answer: C
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Teenagers drink more soda than other age groups. If the number of teenagers increases, everything else remaining the same,
A) market demand for soda does not change. B) market demand for soda increases. C) there is a movement along the market demand curve for soda. D) market demand for soda decreases. E) None of the above answers is correct because the effect on the demand depends whether the supply curve shifts rightward, leftward, or not at all.
One way fiscal policy affects aggregate demand is:
A. indirectly through government spending. B. directly through tariffs. C. directly through taxation. D. indirectly through taxation.
Two parties can capture gains from specialization and trade whenever: a. One party is twice as good as producing all goods as the other
b. The opportunity costs of producing each good are the same for both parties. c. Both parties can produce equal amounts of both goods. d. None of the above are true.
The opportunity cost of a new football stadium is the: