In which of the following farm subsidy programs is the price of the food to the...
In which of the following farm subsidy programs is the price of the food to the consumer likely to be the lowest after the implementation of the program?
Price supports.
Import restrictions.
Target prices.
Direct subsidies.
Acreage restrictions.
Homework Answers
Direct subsidy because it is a direct cash grant given to farmer which helps to reduce cost of production , hence the farmer can sell the produce at more competitive , cheaper rates which in turn benefits the consumer by lower prices in the open market.
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In which of the following farm subsidy programs is the price of
the food to the...
QUESTION 8 In 2001 the U.S. Congress did all of the following except Create new subsidy...
QUESTION 8 In 2001 the U.S. Congress did all of the following except Create new subsidy programs. Increase existing subsidies paid to farmers. Reduce acreage set-asides. Increase loan deficiency payments. QUESTION 9 Marginal cost pricing means that a firm charges A price that is marginally higher than the average total cost of production Any price as long as average total cost is greater than marginal cost. O A price that is equal to the marginal cost of production. O A...
multi part question 4. Agricultural export subsidies in a small nation The following graph shows the...
multi part question
4. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to...
4. Agricultural export subsidies in a small nation The following graph shows the market for wheat...
4. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Py is the free trade price of wheat, Assume that Canada is a relatively small prpducer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at...
Question 16 1 pts Which of the following would shift a supply curve for a good...
Question 16 1 pts Which of the following would shift a supply curve for a good to the right? O An increase in taxes imposed on the production of the good O An increase in import restrictions on the good O an increase in import duties on the good O An increase in subsidies on the good O An increase in the price of the good
The iron law of price is that it must rise before it can fall when a...
The iron law of price is that it must rise before it can fall when a shortage occurs. True False Most economists agree that tariffs and import restrictions make most people worse off. True False The majority of economists in the U.S. support which of the following? dropping most if not all trade barriers greater immigration to the U.S. reducing or eliminating most agricultural subsidies all of the above none of the above Free market economists (classical) are more likely...
95. Which of the following noise abatement programs would not be eligible for federal aid? construction...
95. Which of the following noise abatement programs would not be eligible for federal aid? construction of sound barriers and sound proofing of buildings subsidy to air carriers for the purchase of quieter engines acquisition of land as a buffer zone none of these is eligible for federal aid 98. Which organization establishes worldwide safety and security standards and procedures and provides technical advice on the export and import of aviation products? FAA OSHA ICAO NTSB
The following graph shows the market for wheat in Canada, where Dc is the demand curve,...
The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose...
The following graph shows the market for wheat in Canada, where Dc is the demand curve,...
The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose...
Which of the following is most likely to occur if a single price monopolist is replaced...
Which of the following is most likely to occur if a single price monopolist is replaced by a perfectly competitive market? consumer prices will increase dead weight loss will increase firm profits will increase market output will increase
. Which of the following are examples of positive economic analysis? Which are normative? a. The...
. Which of the following are examples of positive economic analysis? Which are normative? a. The federal minimum wage should increase from $7.25 to $10.10 per hour because that would help create a more even income distribution. b. The minimum wage in San Francisco, CA is $15.59 per hour as of July 2019. c. New reserves discovered in Western Canada and North Dakota have helped drive down the price of natural gas for North American consumers. d. Ecuador should discontinue...
QUESTION 8 In 2001 the U.S. Congress did all of the following except Create new subsidy programs. Increase existing subsidies paid to farmers. Reduce acreage set-asides. Increase loan deficiency payments. QUESTION 9 Marginal cost pricing means that a firm charges A price that is marginally higher than the average total cost of production Any price as long as average total cost is greater than marginal cost. O A price that is equal to the marginal cost of production. O A...
multi part question
4. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to...
4. Agricultural export subsidies in a small nation The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Py is the free trade price of wheat, Assume that Canada is a relatively small prpducer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at...
Question 16 1 pts Which of the following would shift a supply curve for a good to the right? O An increase in taxes imposed on the production of the good O An increase in import restrictions on the good O an increase in import duties on the good O An increase in subsidies on the good O An increase in the price of the good
The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose...
The following graph shows the market for wheat in Canada, where Dc is the demand curve, Sc is the supply curve, and Pw is the free trade price of wheat. Assume that Canada is a relatively small producer of wheat, so changes in its output do not affect the world price of wheat. Also assume that Canada is currently open to free trade, and domestic consumers are able to purchase wheat at the world price with negligible transportation costs. Suppose...
Which of the following is most likely to occur if a single price monopolist is replaced by a perfectly competitive market? consumer prices will increase dead weight loss will increase firm profits will increase market output will increase
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