In 1973 the Russian wheat crop failed and the Soviet Union made massive purchases of American wheat. Which statement is a result of this action?

A. The demand for farm labor and farmland was driven down in the United States.
B. There was no effect on the demand for farm labor and farmland in the United States.
C. The demand for farm labor and farmland was driven up in the United States.
D. None of these statements are true.

C. The demand for farm labor and farmland was driven up in the United States.

Economics

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What is a situation that makes the market behave inefficiently?

What will be an ideal response?

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One way of alleviating opportunism is:

A. contracts in complex contracting environments. B. spot exchange. C. dedicated assets. D. vertical integration.

Economics