Agricultural extension refers to
a. increasing the amount of land on which crops are grown
b. helping farmers understand and use new techniques
c. increasing the number of workers on the land
d. increasing the range of inputs used by farmers
e. none of the above
B
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Which of the following is an example of an expectation of inflation?
A. Producers expect their prices on average to be higher next year. B. Producers expect the prices they pay for raw materials to be higher next year. C. Workers expect that the prices they pay for goods and services will be higher next year. D. All of these are correct.
If a perfectly competitive firm raises its price,
a. the quantity demanded of its good falls because the firm faces a downward- sloping demand curve b. the quantity demanded of its good falls to zero c. new firms will enter, attracted by the higher price d. it loses some of its market share e. other firms in the industry must follow the leader
The person credited with Chinese reforms
a. Deng b. Mao c. Zhou d. Chaing e. Miller