An Increase in Productivity in the Agricultural Sector in Conjunction

question 72

Multiple Choice

An increase in productivity in the agricultural sector in conjunction with an income inelastic demand for farm products

• A)causes prices to fall.
• B)causes prices to rise.
• C)causes prices to remain constant.
• D)may cause prices to rise,fall,or remain the same,depending upon the relative shifts in the supply and demand curves.

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Definitions:

Stated Value

The value of an asset as declared by its owner, often for insurance purposes, which may or may not reflect its actual market value.

Homeowner's Insurance

A type of property insurance that covers damages and losses to an individual's house and assets in the home, providing liability coverage against accidents in the home or on the property.

Burglarized

The act of illegally entering a building with intent to commit theft.

Policy Cover

The extent of protection provided by an insurance policy against specific risks or occurrences.