Jj.42. 1.2.3.4.6.TT5. T8.TT F The Fed's three tools used to change the supply of money are: 1) MonetaryPolicy, 2) Fiscal Policy and 3) Trade Policy.T7. TF In the Kings & Kingmakers Model, the Kings sit at the top of the influencetriangle.F The instability observed in farm prices and income is due to the inelasticnature of the supply and demand for agricultural commodities.10. TF A high value dollar is good for agriculture because it encourages exports.F The Agriculture sector's contribution to the U.S. economy is comparativelylarge and influential.F GDP is the measure that compares changes in the prices of all goods andservices during a given year to the prices of those goods and services in abase year.TF Agriculture Committees fund the farm programs.9. T F Declining farm numbers means that agriculture's political power hasdeclined.F Fiscal Policy is less direct and slower at moving the economy than MonetaryPolicy.F Social Conservatives want more government.

The kings and kingsmakers models are frameworks that describe the power dynamics within a political…

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1. T F In the Kings & Kingmakers Model, the Kings sit at the top of the influence triangle.

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Chapter1: Making Economics Decisions

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Question

Jj.42.

1.
2.
3.
4.
6.
T
T
5. T
8.
T
T F The Fed's three tools used to change the supply of money are: 1) Monetary
Policy, 2) Fiscal Policy and 3) Trade Policy.
T
7. T
F In the Kings & Kingmakers Model, the Kings sit at the top of the influence
triangle.
F The instability observed in farm prices and income is due to the inelastic
nature of the supply and demand for agricultural commodities.
10. T
F A high value dollar is good for agriculture because it encourages exports.
F The Agriculture sector's contribution to the U.S. economy is comparatively
large and influential.
F GDP is the measure that compares changes in the prices of all goods and
services during a given year to the prices of those goods and services in a
base year.
TF Agriculture Committees fund the farm programs.
9. T F Declining farm numbers means that agriculture's political power has
declined.
F Fiscal Policy is less direct and slower at moving the economy than Monetary
Policy.
F Social Conservatives want more government.

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