Common property is
A) property that has mineral or oil deposits.
B) a resource that everyone is free to use as much as they want.
C) property owned by a group such as a club.
D) property that has little economic value.
Answer: B
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If the parity ratio goes from 0.8 to 0.7, it means that the prices received by farmers had:
A. Fallen by 12.5% relative to the prices they paid B. Fallen by 10% relative to the prices they paid C. Risen by 12.5% relative to the prices they paid D. Risen by 10% relative to the prices they paid
Farm price support programs tend to:
A. Benefit both farmers and consumers of the farm products B. Benefit farmers and impose a smaller cost on consumers and taxpayers C. Lead to net social benefits D. Benefit farmers but impose a larger cost on consumers and taxpayers