Commodity-Pricing Data from the Economist Show a Dramatic Long-Run Decline

question 40

Multiple Choice

Commodity-pricing data from The Economist show a dramatic long-run decline in 25 important real commodity prices from 1850 to 2019. This decline primarily occurred because the

• A)demand for commodities decreased drastically.
• B)supply of commodities grew faster than demand.
• C)demand for commodities has remained stable over the years.
• D)supply of commodities increased, while demand increased even more.

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Definitions:

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Processes and functions of living organisms and their parts, including physical and chemical activities.

Psychological Events

Occurrences within the mind, such as thoughts, feelings, and memory processes, that influence behavior and emotional state.

Dependent Variable

In an experiment, it's the variable being tested and measured, expected to change as a result of manipulations to the independent variable.

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The act of concentrating and focusing cognitive resources on a particular object, task, or event.