An increase in the value of the U.S. dollar internationally, ceteris paribus, would result in
A. Higher revenues for U.S. farmers.
B. Lower revenues for U.S. farmers.
C. An increase in the dollar value of U.S. farmland.
D. An increase in the domestic prices of U.S. farm products.
Answer: B
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In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A) Supplemental Security Income programs. B) reducing the age a person can retire at. C) encouraging people to get jobs. D) incorporating the Lorenz policy in decisions.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C