(Consider This) Which of the following methods is commonly used by farmers to "smooth" income over time?
A. Producing only one crop to benefit from specialization.
B. Renting land from other farmers to increase production.
C. Entering contracts with buyers of their farm output to assure themselves of a fixed price.
D. All of these risk-management techniques are used to hedge against short-run price and
output fluctuations.
Answer: C
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Following the initial planning process, the EPA’s ecological risk assessment framework consists of phases that include all of the following EXCEPT
a. problem formulation c. analysis b. dose-response d. risk characterization
The Fed purchases $1 million of U.S. government securities from First Bank. The desired reserve ratio is 10 percent, the currency drain ratio is zero, and banks loan all excess reserves
The Fed's purchase increases First Bank's excess reserves by how much? A) $900,000 B) $1,000,000 C) $1,100,000 D) $10,000,000 E) $100,000
A shift in aggregate supply is likely to:
a) Reduce the general price level and reduce national income b) Reduce the general price level and increase national income c) Increase the general price level and reduce national income d) Increase the general price level and increase national income
When computing the opportunity cost of attending a basketball game you should include
a. the price you pay for the ticket and the value of your time.
b. the price you pay for the ticket, but not the value of your time.
c. the value of your time, but not the price you pay for the ticket.
d. neither the price of the ticket nor the value of your time.