An Economist Thinks That a County Yield Contest That Rewards

question 24

Multiple Choice

An economist thinks that a county yield contest that rewards high levels of output is:

• A) a good idea, since it provides the correct incentives to growers
• B) not worth the trouble, due to chemicals and fertilizer "burn"
• C) a poor goal, relative to an economic goal
• D) a scarce commodity, where benefits outweigh costs

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Definitions:

Check 21

Legislation that allows banks to handle more checks electronically, which speeds up the check clearing process by creating a digital version of the original paper check.

Truncated Version

A shortened form or version of a document, statement, or piece of information, typically preserving only the most essential parts.

Stop-Payment Order

An order by a drawer that instructs the drawee bank not to pay an issued check.

Drawer

In the context of financial transactions, the person who writes or issues a cheque or draft directing a bank to pay the specified amount to a third party.