Today, primary commodities
A) are not a major export for most of Latin America.
B) are highly valued relative to manufactured goods.
C) have benefited from increased demand from growing world economies.
D) are not subject to business cycles.
C
Economics
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Price floors and price ceilings
A) always reduce total surplus. B) reduce consumer surplus and increase producer surplus. C) reduce producer surplus and increase consumer surplus. D) Not enough information to determine.
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Supply-side theory asserts that high marginal tax rates
A) encourage private saving. B) encourage business investment. C) discourage government expenditures. D) discourage work effort.
Economics