If farm price supports gave farmers 60 percent parity in 1975, then we know that
A) farm purchasing power was 60 percent higher in 1975 than in 1910-1914
B) farm purchasing power was 60 percent lower in 1975 than in 1910-1914
C) farmers were better off in 1975 than in 1910-1914
D) farm prices in 1975 purchased 160 percent of what they purchased in 1910-1914
E) the purchasing power of a unit of farm goods in 1975 was 60 percent of the purchasing power it had in 1910-1914
Correct Answer:
Verified
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