What Would Best Characterize the Relationship Between Corn Prices, Wheat

question 14

Multiple Choice

What would best characterize the relationship between corn prices, wheat prices and the public sale of western land (OH, IL, IN, MI, IA, WI, MO) between 1815-1860?

• A) All three were very positively correlated.
• B) Land sales increased first, which drew people to move and produce more crops, which increased the crop prices.
• C) As land sales increased, corn prices increased and wheat prices decreased as farmers substituted from wheat to corn.
• D) Land sales were negatively related to both the wheat and corn prices.

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