The basic reason why farm prices have declined has been that _________________________.
Fill in the blank(s) with the appropriate word(s).
supply has exceeded demand
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The ________ of the 1968 tax surcharge led to the prominence of the developer of the permanent-income hypothesis that predicted it, ________
A) success, Walter Heller B) success, Milton Friedman C) failure, Walter Heller D) failure, Milton Friedman
Which statement uses the term ceteris paribus correctly?
A) If you exercise regularly, you will be healthier, ceteris paribus. B) Blue is to green, ceteris paribus, as red is to purple. C) Most people consider Sunday to be the first day of the week, ceteris paribus. D) Interest rates usually rise in October, ceteris paribus. E) a and d
Suppose a new EU member begins substituting its imports from non-EU members to other EU members. This is an example of
A) trade diversion. B) trade deflection. C) free trade. D) trade detection.
Excise taxes are designed to ______.
a. tax all products equally b. tax distinct products only c. help low-wage earners invest more d. help low-wage earners afford necessities