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Explain Why the Ratio of Farm Prices to Nonfarm Prices

question 9

Essay

Explain why the ratio of farm prices to nonfarm prices fell 60 percent between 1910-1914 and 2001.


Definitions:

Adequate Employment

Adequate employment refers to employment situations where individuals have jobs that sufficiently utilize their skills, offer fair compensation, and provide stable working conditions.

Poverty

The state of having insufficient financial resources to meet basic living expenses, such as food, shelter, and healthcare.

Poverty Threshold

The annual income below which a family is officially considered poor.

Technological Progress

It denotes advancements and improvements in technology, which enhance productivity and efficiency in various sectors.

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