In a nutshell, what explains the chronic problem that farmers face in the United States?
a. Farmers cannot produce sufficient quantities of food to keep up with the growing demands of consumers
b. There has been misuse of the price floor mechanism.
c. An increase in the number of farms created agricultural overpopulation.
d. Farmers have failed to adapt new technology in an ever-increasing technological world.
e. The outward shift in the supply curve of the farm goods they produce has been greater than the outward shift in the consumers' demand curve for those goods.
E
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The number of corn producers increases, so the supply of corn ________ and the supply curve of corn ________
A) increases; does not shift B) increases; shifts rightward C) decreases; shifts leftward D) increases; shifts leftward E) decrease; shifts rightward
A White House proposal to lower business taxes by increasing tax deductions is an example of
A) progressive taxation. B) contractionary fiscal policy. C) automatic stabilization. D) expansionary fiscal policy.