Which of the Following Is the Best Description of the Effects

question 54

Multiple Choice

Which of the following is the best description of the effects of an increase in the supply of bread?

• A) Consumers will pay more for bread.
• B) Bread prices will fall, and bread sales will rise.
• C) A permanent surplus of bread will remain on the market.
• D) Bakers will have higher marginal costs.

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Definitions:

Medicaid

A government-funded program in the United States that provides health coverage to eligible low-income adults, children, pregnant women, elderly adults, and people with disabilities.

Supplemental Security Income

A United States government program that provides financial assistance to individuals who are elderly, blind, or disabled and have little or no income.

TANF

Stands for Temporary Assistance for Needy Families, a federal assistance program designed to help families in need achieve self-sufficiency.

Subsidized Health Insurance

Subsidized health insurance is a health policy for which a government or organization bears a portion of the cost, making it more affordable for the insured.