The Commodity Credit Corporation (CCC) instituted several policies to improve the welfare of farmers. Which of the following best describes the programs' effects?
a. The CCC price supports mandated a one-price policy on all agricultural goods.
b. The CCC made loans to farmers, using the farmers' future crops as collateral with recourse.
c. The CCC price supports inefficiently allocated resources, which decreased welfare.
d. If the commodity price increased, according to the free market, then the CCC would command and collect "excess" profits, i.e., revenues in excess of the one-price policy, for use as loanable funds.
C. The CCC price supports inefficiently allocated resources, which decreased welfare.
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Which of the following has been suggested as reasons for Mexico's slow economic growth?
A) Mexico's long-ruling PRI political party B) Mexico's Spanish colonial background C) Mexico's legal restrictions on the financial sector D) all of the above
The behavior of historical cost curves says nothing about the cost advantages or disadvantages of a single large firm.
Answer the following statement true (T) or false (F)
The __________ level of government accounts for the largest share of health care spending.
A. regional B. state C. municipal D. federal
Macroeconomic equilibrium occurs when:
a. Expected amount supplied equals expected amount demanded, which means expected leakages equal expected injections. b. Leakages equal injections. c. Supply equals demand and Leakages equal injections. d. Expected and actual supply equals expected and actual demand, which means expected and actual leakages equal expected and actual injections. e. None of the above.