The Long-Run Fall of Commodity Prices Implies That Commodity Supplies

question 132

Multiple Choice

The long-run fall of commodity prices implies that commodity supplies have grown

• A) faster than the rate of productivity in the economy.
• B) more slowly than total resource consumption.
• C) faster than total resource consumption.
• D) more slowly than the inflation rate.

---

Definitions:

My Lai Massacre

Massacre of 347 Vietnamese civilians in the village of My Lai by Lieutenant William Calley and troops under his command. U.S. army officers covered up the massacre for a year until an investigation uncovered the events. Eventually twenty-five army officers were charged with complicity in the massacre and its cover-up, but only Calley was convicted. He served little time for his crimes.

Nuremberg Trials

A series of military tribunals held after World War II to prosecute prominent leaders of Nazi Germany for war crimes, crimes against humanity, and genocide.

Conservative Agenda

Refers to political goals that emphasize traditional values, limited government, and free market principles.

Welfare State

A term that originated in Britain during World War II to refer to a system of income assistance, health coverage, and social services for all citizens.