Q: The economic rationale for farm price supports is generally a)
The economic rationale for farm price supports is generally a) weak, but relies on price variability. b) weak, but relies on the unavailability of crop insurance. c) strong, and relies on the fact...
See AnswerQ: Antitrust law is designed to limit the impact of a)
Antitrust law is designed to limit the impact of a) monopoly. b) oligopoly. c) monopolistic competition. d) perfect competition.
See AnswerQ: The earnings of African Americans relative to whites has a)
The earnings of African Americans relative to whites has a) increased from 40 percent in the 1920s to 90 percent today. b) increased from 50 percent in the 1950s to around 60 percent in the 1970s, r...
See AnswerQ: Income inequality as conventionally measured is ____ when you ignore the fact
Income inequality as conventionally measured is ____ when you ignore the fact that a higher percentage of the population is filing tax forms. a) overstated b) understated c) property stated
See AnswerQ: Price supports in the United States have a) always relied
Price supports in the United States have a) always relied on the government paying farmers to set aside land. b) always relied on the government buying excess crops. c) always relied on forbidding...
See AnswerQ: In order for the minimum wage to reach its 1968 high in
In order for the minimum wage to reach its 1968 high in real terms (1999 dollars), it would have to rise to approximately ___ per hour. a) $8 b) $9 c) $10 d) $11
See AnswerQ: Economists ______ the activities of ticket brokers and scalpers. a
Economists ______ the activities of ticket brokers and scalpers. a) draw no distinction between b) separately model c) draw a stark contrast between d) ignore
See AnswerQ: In the long run, rent control has ________ impact because,
In the long run, rent control has ________ impact because, over time, supply and demand become ______ elastic. a) an increasing; more b) a decreasing; more c) an increasing; less d) a decreasing;...
See AnswerQ: The fact that education benefits not just the person being educated but
The fact that education benefits not just the person being educated but society as a while suggests that there is a a) positive externality. b) negative externality. c) congestion. d) monopoly.
See AnswerQ: Economists are concerned about nontariff (regulatory) barriers when they are
Economists are concerned about nontariff (regulatory) barriers when they are used to prevent imports when a good a) is produced via questionable means (e.g. banning milk produced from cows injected...
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