Since 1950, There Has Been a Substantial Increase in Wheat

question 107

Multiple Choice

Since 1950, there has been a substantial increase in wheat production.The increase in production has led to a decrease in the price of wheat because of which of the following factors?

• A)The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is greater than 1.
• B)The absolute value of the price elasticity of demand for wheat is greater than 1 and wheat is a close substitute for other food products.
• C)The absolute value of the price elasticity of demand for wheat is less than 1 and the income elasticity of demand for wheat is low.
• D)The income elasticity of demand for wheat is high and wheat is an inferior good.

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Definitions:

Terrorists

Individuals or groups that use violence and intimidation, especially against civilians, in the pursuit of political aims.

Reasonable Expectation of Privacy

A legal standard that determines whether a person's privacy has been violated in a manner that society is prepared to recognize as reasonable.

Open Field

An area of open, undeveloped land, often related to the legal doctrine that such areas are not protected by the Fourth Amendment's search and seizure protections.

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The highest judicial court in a country or state, which primarily deals with appeals from lower courts.