Supply-Restricting Policies Are Intended to __________ Prices and __________ Farmers

question 117

Multiple Choice

Supply-restricting policies are intended to __________ prices and __________ farmers' revenues.

• A)lower;increase
• B)lower;reduce
• C)raise;increase
• D)raise;reduce

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Definitions:

Normal Application

In cost accounting, it pertains to the standard method used to allocate overhead costs to products or services.

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.

Process

A series of actions or steps taken in order to achieve a particular end.

Favorable Variance

The difference between actual results and expected (budgeted) results that indicates more efficient or cost-effective performance.