In a Crop Market with a Price Support Above the Equilibrium

question 92

Multiple Choice

In a crop market with a price support above the equilibrium price,the total amount of the subsidy paid to farmers is equal to the

• A) quantity of the surplus crop multiplied by the support price.
• B) quantity of the crop produced multiplied by the support price.
• C) quantity of the crop purchased by domestic users multiplied by the support price.
• D) quantity of the surplus crop multiplied by the equilibrium price.
• E) quantity of the crop purchased by domestic users multiplied by the equilibrium price.

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Definitions:

Reasonable Notice

Length of notice to be given to an employee to terminate an employment contract of indefinite term; determined with reference to length of service and the nature of the employee’s position, among other factors.

Unfair Labour Practice

Acts by employers or unions that violate employees' rights and undermine fair labor standards.

Union Representative

A union representative is an individual elected or appointed to represent the interests of union members in discussions and negotiations with employers.

Annual Wage Increase

A periodic, typically yearly, rise in the base salary or wages of an employee.