When the Federal Government Installs a Price Support Program That

question 20

Multiple Choice

When the federal government installs a price support program that requires the government to purchase all of a good not bought in the private economy at the support price, the impact on total welfare is the:

• A) change in consumer surplus.
• B) change in consumer surplus + the change in producer surplus + the cost to government.
• C) change in consumer surplus + the change in producer surplus - the cost to government.
• D) change in consumer surplus + the change in producer surplus.

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Definitions:

Subject, Audience

Considerations in communication and art that refer to the topic or matter being discussed or portrayed (subject), and the viewers or listeners targeted or considering the material (audience).

Purpose

The reason for which something is done or created, or for which something exists.

Video Game Addiction

A behavioral disorder characterized by excessive or compulsive use of video games, which interferes with a person's everyday life.

Leisure Time Activities

Activities done for enjoyment or amusement during free time, not associated with one's professional or work obligations.