During the Twentieth Century,the U.S.farm Sector Experienced

question 30

Multiple Choice

During the twentieth century,the U.S.farm sector experienced

• A)large increases in its ability to produce output.
• B)relatively little improvement in its ability to produce output.
• C)a marked decrease in its ability to produce output.
• D)relatively stable demand for its output.
• E)increasing relative prices for its output.

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Definitions:

Debit

A financial record that leads to a rise in a company's assets or a reduction in its liabilities on the balance sheet.

Credit

An accounting entry that increases liabilities or equity or decreases an asset or expense.

Prepaid Insurance

An asset account that reflects payments made for insurance coverage periods extending into the future; it is expensed over time as the coverage period lapses.

Normal Balance

Refers to the debit or credit balance that is expected on a specific type of account based on its accounting rule.