The Employment Act of 1946 committed the federal government to intervening in the economy to prevent large declines in output and employment.
Answer the following statement true (T) or false (F)
True
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La Super Rica is a taco stand in Santa Barbara, California. It is popular with the locals and even the late Julia Child found the food delicious. If La Super Rica is making an economic profit, what is the probable outcome in the taco market?
A) The number of firms will increase, decreasing La Super Rica's demand. B) The number of firms will decrease, decreasing La Super Rica's demand. C) The number of firms will increase, increasing La Super Rica's demand. D) The number of firms will decrease, increasing La Super Rica's demand.
Agricultural price supports have been criticized because they:
A. Hasten the exodus of labor from agriculture B. Subsidize consumers at the expense of farmers C. Help large-scale farmers rather than small farmers D. Create product shortages