Author Question: If you were a government official that wanted to raise the equilibrium price of milk, which of the ... (Read 51 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
If you were a government official that wanted to raise the equilibrium price of milk, which of the following actions would you take?
 a. Take milk from government storage and sell it.
  b. Encourage farmers to produce more milk.
  c. Subsidize purchases of dairy equipment.
  d. Encourage farmers to produce less milk.

Question 2

If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
 a. upward movement along the supply curve for cigarettes.
  b. rightward shift of the supply curve for cigarettes.
  c. upward movement along the demand curve for cigarettes.
  d. leftward shift of the supply curve for cigarettes.



ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

For a complete list of videos, visit our video library