Relative price and income inelasticity in agriculture

Technological advances have raised agricultural productivity enormously among 1800 and nowadays, and therefore, the relative incomes of family farmers declined dramatically. There hardships endured through American farm families throughout this period were most directly attributable to: (1) the unionization of migrant agricultural employees. (2) free trade policies which stimulated outsourcing of agricultural work to low wage countries. (3) demands for farm products being relatively price and income inelastic. (4) monopoly power obtained by giant trading firms within international agricultural markets. (5) policies which subsidized the exchange rate of the dollar and reduced farm exports.

Please help me to solve the problem of economic that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Problem on rational ignorance An

An illustration of rational ignorance is demonstrated when you: (1) Are elected to a political office. (2) Settle for an other half who is not your "ideal" mate. (3) Eat a steak which increases your cholesterol level. (4) Were suspended from high scho

Q : Competitive Resource of Market Supply

Because resources should be hired away through other uses, the resource supply curves facing a huge and expanding competitive industry are classically: (1) horizontal. (2) U shaped. (3) upward sloping. (4) downward sloping. (5) vertical.Can anyb

Q : Long-run supply curve of a purely

Long-run supply curve of a purely competitive industry has a slope which is: (w) negative to offset the positive slope of each firm’s short-run supply. (x) positive to reflect the positive slope of each firm’s short-run supply. (y) depende

Q : Transformation of Predictable Income

The transformation of predictable income streams within wealth is termed as: (i) monetization. (ii) financial arbitrage. (iii) capitalization. (iv) seignorage. (v) capital accumulation. How can I solve my E

Q : Money functions Give me answer of this

Give me answer of this question. Money functions as: A) a store of value. B) a unit of account. C) a medium of exchange. D) all of the above.

Q : Describing monopoly Illustrate the term

Illustrate the term monopoly?

Q : Labor Union-union membership The basic

The basic idea that unions are more influential than ever before is: (i) Supported by the consequences of unions on inflationary spirals. (ii) Reflected in the growing numbers of violent and expensive strikes. (iii) Contrary to the fact that union membership is refusi

Q : Short run market supply curve for a good

A short run market supply curve for a good manufactured within a purely competitive industry is derived through: (w) vertically summing the marginal cost curves above the AVC curves for all firms which may potentially enter the industry. (x) adding to

Q : Illustration of Contestable Market The

The probably of the following industries to be a contestable market is: (i) electricity generation. (ii) cellular telephone services. (iii) cable TV systems. (iv) natural gas service. (v) water and sewer services.

Q : Labor Force Participation Rates The

The percentage of a specified population who are either unemployed or employed is termed as the: (1) labor force participation rate. (2) work-force proportion. (3) labor supply. (4) substitution effect dominance rate. (5) income-leisure loss curve.

Discover Q & A

Leading Solution Library

Avail More Than 1414512 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1948338
Asked

3,689

Active Tutors

1414512

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment