Asked by Erica Cluff on Jun 18, 2024
Verified
One consequence of the long-run problem faced by farms has been a
A) rapid increase in the price of farm output.
B) massive exit of workers from agriculture to other sectors of the economy.
C) smaller average farm size.
D) reduction in U.S. exports of farm products.
Long-Run Problem
Issues or challenges that take a significant period to resolve and often require strategic planning and adjustments to address effectively.
Farm Output
The total quantity of agricultural products produced by farms, including crops and livestock.
Agriculture
The practice of cultivating the soil, producing crops, and raising livestock for food, fiber, medicinal plants, and other products.
- Determine the elements that lead to the rise or fall in agricultural employment and the total number of farms.
- Comprehend the responsiveness of agricultural demand and its consequences on the earnings of farms and the prices of agricultural products.
Verified Answer
VE
vanessa elizondoJun 22, 2024
Final Answer :
B
Explanation :
The long-run problem faced by farms, often characterized by falling prices due to overproduction and increased efficiency, has led to a surplus of labor in agriculture. This surplus, in turn, has prompted a massive exit of workers from agriculture to other sectors of the economy in search of better employment opportunities.
Learning Objectives
- Determine the elements that lead to the rise or fall in agricultural employment and the total number of farms.
- Comprehend the responsiveness of agricultural demand and its consequences on the earnings of farms and the prices of agricultural products.