Suppose That an Increase in the Global Demand for Corn

question 66

Multiple Choice

Suppose that an increase in the global demand for corn has pushed the equilibrium price of corn above the government's support price. Which of the following would be true?

• A)price would stay at the support price and government would not buy any corn.
• B)quantity supplied would equal quantity demanded.
• C)quantity supplied would be greater than quantity demanded and the government would buy more corn.
• D)quantity supplied would be less than quantity demanded and the government would have to sell corn.

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Definitions:

Beneficence

An ethical principle requiring that actions benefit others or contribute to their welfare.

Welfare

Refers to the health, happiness, and fortunes of a person or group, often considered in economic and social policies.

Duplicate Publications

The act of publishing the same data or research findings in more than one academic journal or publication, often considered unethical unless properly disclosed.

Piecemeal Publications

The practice of breaking down research findings into multiple smaller publications rather than presenting a comprehensive study in a single paper.