Multiple Choice
Massive increases in food prices in 2008 were the result of:
A) growing demand for food leading to the rightward shift of the demand curve of food along with the rightward shift of the supply curve of food.
B) growing demand for food leading to the rightward shift of the demand curve of food along with the leftward shift of the supply curve of food due to the use of corn for oil.
C) lesser demand for food due to the growing demand for ethanol-based corn.
D) the rightward shift of the demand curve of corn was greater than the rightward shift of the supply curve of corn.
Correct Answer:
Verified
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