Which of the following statements about agriculture in the U.S. is correct?
a. From the 1950s to today, agricultural output has approximately doubled.
b. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology.
c. Increasing the supply of agricultural products typically benefits consumers but harms farmers.
d. Technological improvements typically increase both supply and revenue for individual farmers.
c
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Do macroeconomic issues concern the well-being of the typical individual member of an economy?
A) No, since we are focusing on the behavior of aggregate quantities. B) No, since most individuals have little contact with other economies in the world. C) Yes, since macroeconomic events have widespread effects on everyday lives. D) Yes, since macroeconomics focuses on the decisions constantly being made by the average individual.
If investors showed less of a preference for investing in war-related companies, then it would be expected that the stock prices for those companies would:
A. Increase, and the rates of return would decrease relative to other companies B. Decrease, and the rates of return would increase relative to other companies C. Decrease, but the rates of return would stay the same relative to other companies D. Decrease, and the rates of return would decrease relative to other companies