Which of the following is not characteristic of U.S. agriculture?
A. Productivity has been increasing more slowly in agriculture than in the rest of the economy.
B. The demand for agricultural commodities increases less than proportionate to increases in
income.
C. Resources in agriculture are relatively immobile.
D. Demand is inelastic with respect to price.
Answer: A
You might also like to view...
Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor
With this new arrangement, Marco's dominant strategy is to schedule ________, and Lisette's dominant strategy is to schedule ________, A) 1 visit; 1 visit B) 1 visit; 2 visits C) 2 visits; 1 visit D) 2 visits; 2 visits
What is the United States' primary trade promotion initiative with Africa?
What will be an ideal response?