Which of the Following Best Describes the Main Problem Faced

question 121

Multiple Choice

Which of the following best describes the main problem faced by farms in the long run?

• A)Lagging technology has decreased the productivity of farmers and therefore resulted in low farm prices and incomes.
• B)The highly inelastic nature of agricultural demand has caused small year-to-year fluctuations in farm output to result in highly unstable farm incomes.
• C)The supply of farm products has increased relative to the demand for them, and, because demand is inelastic, farm prices and incomes have therefore declined.
• D)The demand for farm products has increased relative to their supply, but the highly elastic nature of agricultural demand has caused these shifts to result in declining farm incomes.

---

Definitions:

Exclusive Jurisdiction

A legal term referring to the sole authority of a particular court over a specific legal matter or case, with no other court having equal power to adjudicate the case.

Limited Jurisdiction

Limited jurisdiction refers to courts that are restricted in the types of legal matters they can hear and decide, often specializing in certain areas of law.

Small Claims Court

A specialized court that deals with disputes involving a limited amount of money, usually offering a faster and less formal setting than other courts.

Long-arm Statute

A state statute that grants to a state’s courts broad authority to exercise jurisdiction over out-of-state persons who have contacts with the state.