Which of the Following Statements Is True

question 14

Multiple Choice

Which of the following statements is true?

• A)There are more farms today than at the beginning of the 20th century.
• B)An individual farmer prefers good weather to bad weather,but farmers as a group may prefer bad weather to good weather,especially if the demand for their products is inelastic.
• C)Income elasticity of demand measures the responsiveness of a change in quantity supplied to changes in income.
• D)a and b
• E)b and c

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Definitions:

Corporate Ownership

The possession and control over a corporation, usually through the holding of shares.

Reasonably Expected

Anticipated or foreseen based on logical or sensible grounds.

State Securities Laws

Regulations enacted by individual states governing the sale and distribution of securities within their jurisdiction.

Intrastate Transactions

Intrastate transactions are commercial activities that occur entirely within one state's boundaries, not affecting or involving other states.