The three types of farm subsidies under the Food, Conservation, and Energy Act of 2008 are:
A. Equipment coupons, land leases, and income contributions
B. Marketing agreements, transition payments, and interest loans
C. Direct payments, countercyclical payments, and marketing loans
D. Public land sales, fertilizer discounts, and farm bank loans
C. Direct payments, countercyclical payments, and marketing loans
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If marginal utility is negative, total utility is negative
a. True b. False
Countries that grow the fastest are those that adopt inward-oriented policies toward trade and foreign direct investment.
Answer the following statement true (T) or false (F)
Figure 7.6 shows prices, demands, and cost data for the only restaurant in a small town. If the restaurant charges the single price of $8 per meal, what is its profit from senior customers?
A. $1,200 B. $1,500 C. $2,280 D. $2,560
Which of the following is a characteristic of a market economy?
A. Government ownership of the means of production B. Private property C. Distribution according to need D. Tradition determines the what, how, and for whom decisions