Government farm subsidies in the U.S. reflect
a. the lack of urban population political clout
b. the adverse market consequences that could undermine farm stability and the national economy
c. the need for farmers to supply agricultural products in the world market
d. the U.S. Constitution that mandates farm subsidies
e. the concern that American food supply is unreliable
B
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Which of the following are policy tools used by the Federal Reserve?
i. the federal personal income tax ii. open market operations iii. changing the required reserve ratio A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
The concavity (bowed-out shape) of the production possibilities curve is the result of: a. the law of demand
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