Government subsidies are in place to protect the population rather to benefit the economy in the case of which recipient(s)?

(A) Tobacco growers in the United States.
(B) National airlines in Western Europe.
(C) Small farms in France.
(D) A national car company in Indonesia.

Ans: (C) Small farms in France.

Economics

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The Phillips curve summarizes the historical relationship between unemployment and inflation

Indicate whether the statement is true or false

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In the long-run perfectly competitive equilibrium, firms produce at the minimum of average total cost.

Answer the following statement true (T) or false (F)

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