The Lists Below Show Five Agricultural Crops in Alabama, Arkansas

question 23

Multiple Choice

The lists below show five agricultural crops in Alabama, Arkansas, and Louisiana.
$\begin{array} { l l l } \underline { \text { Alabama } } & \underline { \text { Arkansas } } & \underline { \text { Louisiana } } \\\text { soybeans (s) } & \text { soybeans (s) } & \text { soybeans (s) } \\\text { peanuts (p) } & \text { rice (r) } & \text { sugarcane (n) } \\\text { corn (c) } & \text { cotton (t) } & \text { rice (r) } \\\text { hay (h) } & \text { hay (h) } & \text { corn (c) } \\\text { wheat (w) } & \text { wheat (w) } & \text { cotton (t) }\end{array}$
Let U be the smallest possible universal set that includes all of the crops listed, and let A, K and L be the sets of five crops in Alabama, Arkansas, and Louisiana, respectively. Find each of the following sets.
- $\mathrm { A } \cap \mathrm { K }$

• A) \(\{ c , h , p , r , s , t , w \}\)
• B) \(\{ c , p , r , t \}\)
• C) \(\{ \mathrm { h } , \mathrm { s } , \mathrm { w } \}\)
• D) \(\{ \mathrm { c } , \mathrm { h } , \mathrm { s } , \mathrm { t } , \mathrm { w } \}\)

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Definitions:

Leakages-Injections Approach

An economic understanding and analysis of how savings, taxes, and imports (leakages) offset government spending, investments, and exports (injections) in the circular flow of income.

Value Added

The increase in worth of a product or service as a result of a particular process, often characterized by the difference between the price of the finished product and the cost of the inputs involved in making it.

Raw Materials

Basic materials extracted from natural resources or produced through agriculture, which are used in the production of goods and services.

Injection

Any spending other than by households or any income other than from resource earnings; includes investment, government purchases, exports, and transfer payments.