To Have an Effective Price Support Program,the Government Must

question 184

Multiple Choice

To have an effective price support program,the government must
i.isolate the domestic market from the world market.
ii.pay the farmers a subsidy.
iii.introduce a price floor.

• A) i only
• B) ii only
• C) iii only
• D) ii and iii
• E) i, ii, and iii

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Definitions:

Liability

Legal responsibility for one's actions or omissions, which can result in an obligation to compensate any harm caused to others.

Limited Partner

An investor in a partnership who is not involved in the day-to-day operations and whose liability is limited to the amount invested in the business.

Limited Partnership

A partnership consisting of at least one general partner and one or more limited partners, with differing liabilities and investment commitments.

Liable

Legally responsible or obligated, often in the context of debts or legal judgments.