Which of the following did not contribute to the farmer's worsening terms of trade during the period of 1875-1895?
a. A rapid increase in the supply of agricultural products.
b. Output increases as a result of technological change during the period.
c. A rise in demand for U.S. crops after the Civil War.
d. The income elasticity of demand for most agricultural crops was less than one.
c. A rise in demand for U.S. crops after the Civil War.
Economics
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What will be an ideal response?
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A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
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