Which statement is correct?
A. Farmers fared considerably better than most other economic groups during the Great Depression
B. Farmers typically sell their products in highly competitive markets and buy in imperfectly competitive markets
C. The principal beneficiaries of government farm subsidies have been the very-low-income farmers
D. The use of price supports has accelerated the exodus of resources from agriculture
B. Farmers typically sell their products in highly competitive markets and buy in imperfectly competitive markets
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Adjusting monetary growth based on previous changes in nominal GDP
A) is relatively easy for the Fed to undertake because the implementation lag is quitelong. B) could be destabilizing because of the uncertainty of the length of impact lags. C) is an effective policy because it allows the Fed to influence future macroeconomic performance. D) raises the price level proportionately.
Suppose Matt's New Cars issues and sells a one-year discount bond for $9,259 and repays $10,000 at maturity. The interest rate on this bond would be
A) 2.6%. B) 7.41%. C) 8%. D) 10%.