Which of the Following Is One Reason Why the Income

question 262

Multiple Choice

Which of the following is one reason why the income of small family farms has decreased over time?

• A) Technology has increase farm productivity and market supply.
• B) The demand for farm products is price elastic.
• C) The demand for farm products is income inelastic.
• D) The U.S. population has increased greatly since 1950.

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Definitions:

Fluid Intelligence

The aspect of intelligence involving the ability to reason quickly and to think abstractly, often considered independent of learning, experience, and education.

Crystallized Intelligence

The ability to use learned knowledge and experience in problem-solving; it typically increases with age.

Abstractly

Thinking in a way that is not concrete or specific, but involves concepts and ideas without physical reference.

Age

A measure of the time an individual or object has existed, often expressed in years.