Over the past century, there has been little variation in the price of corn from one harvest to the next.
Answer the following statement true (T) or false (F)
False
Farm prices are less stable than nonfarm prices. During the 1930s, relative farm prices fell 50 percent. This experience was the catalyst for government price supports and other agricultural assistance programs.
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The effect of trade on specialized employees of import-competing industries will be ________ jobs and ________ pay because they are relatively ________
A) fewer; lower; immobile B) fewer; lower; mobile C) more; lower; immobile D) more; higher; mobile E) more; higher; immobile
Suppose there was a debate regarding how to spend $1 billion in newly found revenues in the budget. Suppose the centrist Democrat suggests an increase to infrastructure spending. Suppose the centrist Republican suggests an increase in cyber-defense spending. The Democrat says that the extra infrastructure spending will decrease travel times and be the most valuable. The Republican is arguing that, on average, cyber-security is worth the money, so more is better. What is going on here?
A. Neither are using marginal analysis. B. Only the Democrat is using marginal analysis. C. Only the Republican is using marginal analysis. D. Both are employing marginal analysis, just from different perspectives.