Which of the following is most likely to benefit from government established price floors in agriculture?
A. low income farmers
B. small farmers
C. large farm owners and corporate farms
D. cattle ranchers
Answer: C
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Explain how the Fed increases the money supply when it buys bonds in the open market
What will be an ideal response?
Which of the following equations based on capital (K) and labor (L) inputs does not represent a plausible production function?
A) F(K,L) = 3KL B) F(K,L) = 3K C) F(K,L) = K + L - 1 D) F(K,L) = 10(KL)0.5
Which of the following is true of government purchases? a. Government purchases are independent of the price level
b. Government purchases are independent of the level of real GDP. c. Government purchases are independent of consumption. d. Government purchases are independent of investment. e. Government purchases are independent of the amount saved by households.
If a bushel of corn sells for $2 in the United States and for 4,000 COP (Colombian peso) in Colombia, and if 1 dollar is worth 2,200 COP, then:
a. the corn is 400 COP more expensive in Colombia. b. the corn is 400 COP cheaper in Colombia. c. the price of a bushel of corn equals $2 in both the United States and Colombia. d. the price of corn is 4,000 COP lower in Colombia than in the United States. e. the price of corn is $0.20 lower in the United States than in Colombia.