What determines eligibility for SNAP?
a. If a person does not earn enough money to buy their desired amount of food
b. If a person has young children or if the person is considered a senior
c. If 30% of a person’s income does not afford a nutritionally adequate diet
d. If 30% of a person’s income does not afford a person’s desired quality and quantity of food
c. If 30% of a person’s income does not afford a nutritionally adequate diet
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How does the imposition of a tariff reduce the price of imports?
a. At the lower quantity supplied, the price to the importer is lower than if there were free trade. b. At the lower quantity demanded, the price to the importer is lower than if there were free trade. c. Supply of the product is increased from domestic production, reducing the price of the imports. d. Demand for the product is decreased, so that price must fall.
Suppose that the amount of computer apps demanded increases by 10 percent when the price of personal computers falls by 5 percent. The cross price elasticity of demand between computer apps and personal computers is
A. -0.5. B. 2.0. C. 0.5. D. -2.0.
The textbook refers to the following quotation from a Federal Reserve publication: "Trade is a win-win situation for all countries that participate." But many firms and workers oppose free-trade policies and protests against globalization have become a
regular occurrence at meetings of the World Trade Organization. If trade is a "win-win" situation, why is there strong opposition to free trade and globalization? What will be an ideal response?
Refer to the scenario above. In this game, the dominant strategy equilibrium occurs if ________
A) Firm A chooses Strategy Y, and Firm B chooses Strategy X B) Firm B chooses Strategy Y, and Firm B chooses Strategy X C) Both Firm A and Firm B choose Strategy X D) Both Firm A and Firm B choose Strategy Y