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Tag: a bumper crop of farm products causes

a bumper crop of farm products causes

a bumper crop of farm products causes插图

A bumper crop (good harvest) of farm products causes alarge decline in the price of farm productsbecause the demand for farm products is price inelastic. The food-stamp program is designed to

What are the effects of a bumper crop of farm products?

c A bumper crop of farm products causes: a. only a slight decline in the price of farm products because the demand for farm products is income inelastic. b. a large decline in the price of farm products because the demand for farm products is price inelastic.

How does the highly inelastic nature of agricultural demand affect agricultural demand?

B. the highly inelastic nature of agricultural demand has caused small year-to-year fluctuations in farm output i=to result in highly unstable farm incomes. C. the supply of farm products has increased relative to the demand for them, and, because of demand is inelastic, farm prices and income have therefore declined.

How does lagging technology affect the productivity of farmers?

A. lagging technology has decreased the productivity of farmers and therefore resulted in low farm prices and incomes. B. the highly inelastic nature of agricultural demand has caused small year-to-year fluctuations in farm output i=to result in highly unstable farm incomes.

What are the risks associated with farm employment?

Farmers cannot fully insure themselves against the risks unusual to farming, such as floods, droughts, and pests. b Currently farm employment is about: a. 42 percent of total employment.

What does "d" mean in farming?

d. decrease demand and decrease supply of farm products.

What are the three types of subsidies for agriculture?

The Farm Act of 2002 provides three types of agricultural subsidies: direct payments, countercyclical payments, and marketing loans.

What is the price elasticity coefficient of the demand for agricultural products?

The price elasticity coefficient of the demand for agricultural products is .2 to .25. This means that the demand for agricultural products is:

What percentage of farm output is D?

d. averaged about 50 percent of U.S. farm output.

Is demand elastic or elastic?

a. demand is relatively elastic with respect to price.

What has increased relative to the supply of farm products?

D. the demand for farm products has increased relative to their supply, but the elastic nature of agricultural demand has caused these shifts to result in declining farm incomes.

What percentage of farm output is C?

C. averaged about 10 percent of U.S. farm output.

What causes demand to increase by a proportionately larger amount?

C. small increases in income cause demand to increase by a proportionately larger amount.

What does it take to induce a large increase in the amount of agricultural products demanded?

A. it takes a small decline in price to induce a large increase in the amount of agricultural products demanded.

Is B elastic or inelastic?

B. is elastic with respect to income but inelastic with respect to price.