When the rains ended, most of the season's crops were destroyed. A government economic adviser suggests imposing

Question:

When the rains ended, most of the season's crops were destroyed. A government economic adviser suggests imposing a price ceiling on food. Her husband thinks a price floor is better. Who's right? Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Economics

ISBN: 978-1285064437

7th edition

Authors: Fred M. Gottheil

See More Books

Question Posted: Apr 21, 2015 09:31 AM

See More Questions

Why are ceiling and floor limitations on replacement cost considered necessary?
The Venezuelan government has imposed a price ceiling on the retail price of roasted coffee beans. The accompanying diagram shows the market for coffee beans. In the absence of price controls, the...
Why do nutritionists worry about food security? Who is most likely to suffer from food insecurity?
(a) Using your knowledge of economics and how markets work illustrate and explain why the price of electricity has increased so much over the past 18 months throughout the EU. You should consider the...
Explain how DBS has used technology to vary the marketing mix from the extract and explain other opportunities for varying the mix.
There are many people today who believe that cash flow is a better indicator of a company's future success than profit. This notion gained popularity after many reports of corporate financial...
You are in a meeting to decide on a new product development investment. The VP in charge of the meeting seems to be asking a lot of questions of the design engineers. And it also seems like the VP...
1. Identify any potential threats to judgment you think could exist based on the facts of the case? 2. Thinking back to the biases discussed in Chapter 2, what biases might the identified threat(s)...
Richards Corporation had net income of $238,707 and paid dividends to common stockholders of $47,500. It had 56,700 shares of common stock outstanding during the entire year. Richards Corporation's...
Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. His W-2...
Low income families want community colleges to impose a tuition price ceiling. This way, more people get a college education. Do you agree? What economic analysis can you offer to make your case?
The reason farmers have not done as well as the nonfarm population is because: a. The government has interfered in the agricultural market. b. The character of demand and supply in the farm goods...
Explain why the Examination for Discovery can be so important in any court action?
Mac Enterprises has a stock volatility that is 25% greater than that of the "market portfolio".The yield on 10-year Treasury bonds is 2.55%, and the expected market risk premium (MRP) is 5.25%.Based...
3. Nam Trieu joint stock company has just paid dividend of VND 1,800/share. Expected dividend growth rate is 8% pa in the next 3 years and subsequently 5% pa to infinity. If the investors require a...
A company will need to 'roll over' its existing $390561 funding arrangement in two months' time for a further 180 days. It is concerned that interest rates in the short-term debt market may rise in...
On December 2019, Amazon corp. is launching a new cloud server to meet the increasing demand for cloud computing. Starting from next January, this new server will generate $1M revenue per month...
Why do you think JP Morgan Chase was the firm the government turned to for bailing out Bear Stearns?
Sunshine Pools is considering the acquisition of Cool Pools. Information about both companies is presented in the following table. Sunshine Pools has sufficient authorized but unissued shares to...
Suppose that a business sells 6-month subscriptions to its monthly magazine. On January 1, the company receives a total of $600 for 10 subscriptions. To record this transaction, the company debits...
What might shift the aggregate-supply curve to the left? Use the model of aggregate demand and aggregate supply to trace through the short-run and long-run effects of such a shift on output and the...
Suppose the economy is in a long-run equilibrium. a. Draw a diagram to illustrate the state of the economy. Be sure to show aggregate demand, short-run aggregate supply, and long-run aggregate...
Explain whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply. a. The United States experiences a wave of immigration. b. Congress raises the...
Provide the strengths and weakness of each of the theories of substance use disorders genetic, disease, moral, etc. What are the implications of each theory in an individual's pursuit of recovery...
highest mount you can ow finance 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and...
11. Selected information for Blake's Restaurant Supply follows. ($ millions) 2020 2021 Net sales 694 782 Cost of goods sold 450 502 Depreciation 51 61 Net income 130 142 Finished goods inventory 39...

When the rains ended, most of the season's crops were destroyed. A government economic adviser suggests imposing

Question:

Step by Step Answer:

Price ceilings are more practical than p...View the full answer

Principles of Economics

Students also viewed these Economics questions