Under a marketing quota system,
A) the government sets a limit on the quantity of a product that a farmer is allowed to bring to market.
B) farmers are paid to take part of their land out of cultivation.
C) farmers are given limits as to the number of acres that can be used to produce a particular product.
D) farmers are paid the difference between the market price of their product and a governmentally determined price that would maintain an established price parity.
E) the government establishes a minimum price that farmers will be paid for their product, which causes the farmers to cut back on the number of acres planted.
A
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The tradeoff between current consumption and the production of capital goods also reflects a tradeoff between
A) the future production of capital goods and future consumption of goods. B) economic growth and technological change. C) satisfying today the needs of the poor and the wants of the wealthy. D) current consumption and future consumption.
Which of the following is true of a corporation's stock?
a. Stocks are highly illiquid assets. b. Stocks can be easily transferred from one person to another. c. Dividends declared on stocks are not subject to personal income tax. d. Dividend declared on stocks assure a steady income to the stockholders.
In a constant-cost industry, the long-run market supply curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. the same slope as the typical firm's supply curve
Which is not a typer of decision that can be made at the margin?
(A) Whether to leave early in the morning or late in the day for a trip. (B) Whether or not to hire 100 new workers. (C) Whether or not to go on a vacation. (D) Whether to grow beans or corn on a large farm.