THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As a result of farmers trying to increase crop production, what happened to farm prices?
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Prices increased
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Prices stayed the same
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Prices decreased.
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None of the above
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Explanation:
Detailed explanation-1: -Agricultural productivity is becoming increasingly important as the world population continues to grow. As agricultural productivity grows, food prices decrease, allowing people to spend less on food, and combatting hunger.
Detailed explanation-2: -Since there is a limited amount of land, it is practically impossible to expand the area that can be farmed. The demand for land is enormous as a result of population growth.
Detailed explanation-3: -Uncertainty in output prices generally leads farmers to reduce the use of inputs in the production process [6].
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