KSU AGEC 315 Exam 1 Already Rated A+
Which of the following represents a movement along the supply curve? ️I only: Farmers are expected
to plant more cotton this year because the price of cotton is high relative to the price of corn
Which of the following was listed as a problem with decrea...
Which of the following represents a movement along the supply curve? ✔️I only: Farmers are expected
to plant more cotton this year because the price of cotton is high relative to the price of corn
Which of the following was listed as a problem with decreasing food demand by reducing meat
consumption? ✔️II only: Without a government policy, there is not likely to be much impact from
reducing meat consumption
Which of the following graphs best describes the trend in real (deflated) prices of major grains from
1960 to 2006? ✔️D
Which of the following represents a shift in the demand for hot cocoa? ✔️III only: An advertisement
with an adorable little boy promoting hot cocoa results in an increase in hot cocoa sales
Which of the following is consistent with an increase in food prices? ✔️A decrease in production by
shifting the supply curve
The graphs best illustrate which of the following points? ✔️An increase in demand (due to a shift)
causes a larger increase in price when supply is more inelastic
Which of the following is NOT true about the Green Revolution? ✔️The Green Revolution caused food
prices to increase
What are three methods of intensification? ✔️Technological innovation, closing the yield gap, plant
more intensively
Why did countries change their trade barriers in response to rising food prices in 2008? ✔️To insulate
domestic consumers from higher prices
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