Suppose the government establishes a price support for soybeans. The new government program will tend to
A) decrease the output of soybeans.
B) increase the quantity demanded of soybeans.
C) decrease the demand for soybeans.
D) increase a farmer's opportunity cost of producing other commodities (such as corn), which could be grown on the same land used to grow soybeans.
E) do none of the above.
D
Economics
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The long-run aggregate supply curve shows the
A) maximum GDP the nation will ever produce. B) full-employment level of real GDP. C) level of real GDP associated with a constant price level. D) level of output at which real GDP equals nominal GDP.
Economics
How does the Ultimatum Game work? What does experimental evidence show about the outcome of the Ultimatum game?
What will be an ideal response?
Economics