One of the major drawbacks associated with parity pricing is that it
a. creates underproduction of food goods
b. doesn't apply to consumption by cattle and hogs of feed corn
c. causes many farmers to go out of business
d. stifles the adoption of new technology
e. helps the rich farmers more than the poor ones
E
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The WTO explicitly stated that in making its sea turtle decision, it was NOT saying that sovereign nations could not adopt effective measures to protect endangered species
Clearly, it said, sovereign nations can and should develop effective measures, including trade measures, to protect endangered species. Indicate whether the statement is true or false
Assume the marginal propensity to consume (MPC) is 0.75 and the economy is in recession with real GDP $1 trillion below full-employment real GDP. To achieve full employment, aggregate demand (AD) must be increased $2 trillion. Following discretionary fiscal policy, government spending should be increased:
a. $0.25 trillion. b. $1 trillion. c. $0.5 trillion. d. $2 trillion.