The demand for agricultural products rises less rapidly than income. This means that the demand for agricultural products is:
A. income inelastic.
B. income elastic.
C. price inelastic.
D. price elastic.
Answer: A
Economics
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Monetarists believe that velocity
A) is constant. B) changes erratically. C) and the money supply always have an inverse relationship. D) changes in a way that can be understood and predicted.
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