It is not likely that the costly special-interest farm price supports will be replaced by more efficient direct transfer payments because
a. farming would cease
b. such a proposal would attract public attention and threaten the survival of the program
c. the private gains from price supports exceed the costs to society
d. a direct transfer program would require too much paperwork
e. consumers favor the current legislation
B
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The choice between futures and options
A) depends on whether the underlying instrument is a debt instrument or an equity. B) reflects a trade-off between the higher cost of using options and the extra insurance benefits that options provide. C) reflects a trade-off between the higher cost of using futures and the extra insurance benefits that futures provide. D) reflects a trade-off between the greater risk from using options and the extra insurance benefits that options provide.
Tax loopholes are equally available to all taxpayers
a. True b. False Indicate whether the statement is true or false
The relationship between sales and revenue is
A) an inverse relationship. B) a direct relationship. C) a negative relationship. D) independent.
Which of the following functions of money would prove rather useless if inflation were extremely high?
A) medium of exchange B) store of value C) standard of value D) all of the above