Which of the Following Statements Is Correct

question 172

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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