In Response to the Demands of Environmentalists, Large Sections of Timberlands

question 29

Multiple Choice

In response to the demands of environmentalists, large sections of timberlands are put off limits to logging.What effect will this have on the aggregate supply curve?

• A)Shift it outward.
• B)Shift it inward.
• C)Move the economy up along the curve.
• D)Move the economy down along the curve.

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Definitions:

Eli Whitney

An American inventor best known for inventing the cotton gin, a device that revolutionized the cotton industry by greatly facilitating the removal of seeds from cotton fibers.

Farm Worker

Farm workers are individuals employed in the agricultural sector, focusing on the cultivation and harvesting of crops as well as the raising of animals.

Productivity

The measure of the efficiency of production, often evaluated as the ratio of outputs to inputs in a given time period.

Farm Price Supports

Government subsidies designed to maintain the income of farmers by stabilizing the prices of agricultural products.