Which of the following is true of U.S.farm products over the past few decades?
A)The increase in supply has been greater than the increase in demand, which has led to an increase in price.
B)The increase in supply has been less than the increase in demand, which has led to an increase in price.
C)The increase in supply has been greater than the increase in demand, which has led to a decrease in price.
D)The increase in supply has been less than the increase in demand, which has led to a decrease in price.
E)The increase in supply has been greater than the decrease in demand, which has led to an increase in price.

Question

Quizplus · Accepted Answer

The increase in productivity from advancements such as technology and genetic modification has led to an increase in supply of farm products. However, the demand for these products has not increased at the same rate, resulting in a surplus and therefore a decrease in price.

Which of the Following Is True of U