The Commodity Credit Corporation
a. advises farmers what goods to produce
b. makes loans to farmers and accepts farm goods in repayment for the loan
c. provides credit to farmers who cannot otherwise get credit from commercial banks
d. buys farms goods directly from farmers and sells them to consumers
e. provides cash payments to farmers who put their acreage into soil banks
B
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If real GDP grows at 4 percent, the quantity of money grows at 6 percent, and velocity does not change, then in the long run the inflation rate is
A) 2 percent. B) 4 percent. C) 10 percent. D) 1.5 percent. E) 6 percent.
The difference between a tariff and a quota is that the revenue from the tariff goes to the
A) domestic consumer. B) domestic producer. C) domestic government. D) foreign producers. E) foreign government.