MCQOPTIONS
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| 1. |
Over the long-run, the number of farm households has declined in part because: |
| A. | the demand for farm products is price-elastic |
| B. | farm productivity has increased at a much slower pace than in the manufacturing and service sectors |
| C. | the demand for farm products is inelastic with respect to both price and income |
| D. | government policies have resulted in chronic shortages in critical markets |
| Answer» D. government policies have resulted in chronic shortages in critical markets | |