The most important factor explaining the existence of farm subsidies in the United States is
a. demands for them from the general public.
b. demands by agricultural interest groups.
c. demands by professional economists.
d. the impact of international economic relations.
Answer: b
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Economic liberalism is an aspect of the international political economy that promotes which of the following?
a. Fair trade b. Tariffs on foreign imports c. Government subsidies to agricultural and commercial multinational corporations d. Enterprise free from government intervention
Which of these statements best describes the influence of interest rate reductions by the Federal Reserve?
A. The can lead to higher unemployment in years of budget deficits
B. They can spur economic growth by increasing the available money supply
C. They always lead to lower rates of marginal taxes
D. They can spur economic growth by increasing the cost of money for business.