Which of the Following Statements Is Correct

question 230

Multiple Choice

Which of the following statements is correct?

• A)The price support program hastened the exodus of resources from agriculture.
• B)The main beneficiaries of government price support assistance were the very low income farmers.
• C)If the demand for agricultural products is inelastic, a relatively small decrease in supply will increase gross farm incomes.
• D)There is a misallocation of resources in rural America because of absolute and relative increases in the size of the farm population.

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Definitions:

Correlation

A statistical measure that describes the degree to which two variables move in relation to each other.

Maximize Control

The effort to increase one's ability to influence or manage the outcome of events or processes.

Experimentation

The process of conducting controlled tests to explore hypotheses, investigate phenomena, or test theories.

Researchers

Individuals who conduct systematic investigations to establish facts or reach new conclusions in various fields of study.