Which of the following statements about U.S. agriculture is true as it relates to the past several decades?
A) The demand for farm products has declined, the supply of farm products has increased, and the price of farm products has declined.
B) The demand for farm products has become both more income elastic and more price elastic.
C) Minimum efficient scale has increased, the prices of farm products have declined, and the number of farms has declined.
D) The prices of farm products have increased, minimum efficient scale has declined, and the supply of farm products has been stagnant.
Correct Answer:
Verified
Q1: Which of the following statements best describes
Q2: Since 1950, U.S. farm exports have
A) increased
Q3: The demand for agricultural products is
A) relatively
Q5: Which of the following would, other things
Q6: The demand for agricultural products
A) has a
Q7: In the United States, "farm products" are
Q8: The demand for agricultural products rises less
Q9: Which of the following statements is correct?
A)
Q10: A bumper crop of farm products causes
A)
Q11: Since 1950, farm productivity has
A) advanced twice
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