In the late 1990s, the Asian crisis reduced the demand for U.S. farm products, which weakened farm prices.
Answer the following statement true (T) or false (F)
True
As Asian nations stumbled into recession, their ability to buy American farm products was diminished. As a result, U.S. farm exports fell sharply during 1997 and 1998, and farm prices tumbled.
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If the foreign exchange rate is 70 cents for one Swiss franc, then
A) a car that costs 40,000 francs will cost $7,143.00. B) a wine that costs 200 francs will cost $14.00. C) a clock that costs 500 francs will cost $350.00. D) a house that costs 100,000 francs will cost $700,000.00.
If losses are incurred in a competitive industry, then over the long-run we can expect a greater quantity supplied, because market price will rise
a. True b. False Indicate whether the statement is true or false
Analysis of a proposed merger involves examining its effect only on a market's concentration.
Answer the following statement true (T) or false (F)
Refer to the figure that shows the market for U.S. health care. The problem of rapidly rising medical care costs is best illustrated by the shifts of the demand and supply curves from D 1 to:
A. D 2 and S 1 to S 2 .
B. D 2 and S 1 to S 3 .
C. D 3 and S 1 to S 2 .
D. D 3 and S 1 to S 3 .