If the government restricts the selling of corn so that the quantity is less than the equilibrium quantity, then the policy I. creates a deadweight loss. II. decreases total surplus
A) Only I is correct.
B) Only II is correct.
C) Both I and II are correct.
D) Neither I nor II is correct.
C
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Economic growth is likely to be faster when
a. higher tax rates are imposed on high income individuals in order to provide greater cash payments to the poor. b. domestic markets are opened to foreign sellers and foreign investors. c. the supply of money is increased rapidly so individuals have more money to spend. d. dramatic changes in political and legal institutions occur often.
Purchasing a smart phone data plan, premium movie channels, and University of Alabama football season tickets results in you having to drop your health insurance plan. This can be described as:
A. home field advantage B. a trade-off C. irrational decision making D. healthy living