In 2007 and 2008, the sharp increase in the price of soybeans reflected primarily
A. the increased demand for corn needed to produce ethanol.
B. an unseasonably warm spring in the soybean-producing states of Indiana, Illinois, and Iowa.
C. government cash subsidies to soybean producers per ton harvested.
D. increased use of advanced fertilizers by soybean producers.
Answer: A
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Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?
A) 2 B) 3 C) 6 D) 12
Refer to Figure 16.1. A decrease in the depreciation rate is best represented by a movement from
A) point A to point B. B) point B to point A. C) point A to point C. D) point C to point A.
Suppose the Ivory Coast, a small country, imports wheat at the world price of $4 per bushel. If the Ivory Coast imposes a tariff of $1 per bushel on imported wheat, then, other things equal, the price of wheat in Ivory Coast will increase, but by less than $1
a. True b. False Indicate whether the statement is true or false
A tax on buyers
What will be an ideal response?