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Author Question: Increases in the price of farm labor during the post-bellum period led to a. an increase in ... (Read 80 times)

LaDunn

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on: Jun 30, 2018
Increases in the price of farm labor during the post-bellum period led to
 a. an increase in farmers' demand for capital equipment.
  b. a decrease in farmers' demand for land.
  c. a decrease in the demand for food.
  d. an increase in the demand for fertilizer.

Question 2

(Refer to the figure provided in the text.) For the share of income spent on food to remain constant as income rises, the Engel curve must
 a. lie above the 45-degree line.
  b. lie below the 45-degree line.
  c. be equal to the 45-degree line.
  d. bisect the 45-degree line.


Sarahjh

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a. an increase in farmers' demand for capital equipment.

Answer to Question 2

c. be equal to the 45-degree line.


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