The major problems confronting U.S. agriculture are the downward trend in relative farm prices and abrupt short-term swings in prices.
Answer the following statement true (T) or false (F)
True
The long-term downtrend in (relative) farm prices is only one of the major problems confronting U.S. agriculture. The second major problem is short-run: prices of farm products are subject to abrupt short-term swings.
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A determinant of the price elasticity of supply is the extent to which
A) consumers like the quality of the good. B) the demand for the good is relatively elastic. C) the good has many consumer substitutes. D) production of the good uses commonly available resources.
For a specific change in the yield to maturity
A) the shorter the time until a bond matures, the greater will be the change in its price. B) the longer the time until a bond matures, the greater will be the change in its price. C) the longer the time until a bond matures, the greater will be the change in its par value. D) the shorter the time until a bond matures, the greater will be the change in its coupon rate.
An increase in the equilibrium quantity of good B can be caused by
A) an increase the price of inputs utilized in producing good B. B) an increase in the price of good B. C) a technological improvement in the process of producing good B. D) a reduction in the number of producers of good B.
Small-denomination certificates of deposits are
A. included in M1 and M2. B. included in M2 but not M1. C. included only in M1. D. included in M1 but not M2.