Asked by
Shruti Agarwal
on Oct 12, 2024
Verified
In 1973 the Russian wheat crop failed and the Soviet Union made massive purchases of American wheat.Which statement is a result of this action?
A) The demand for farm labor and farmland was driven down in the United States.
B) There was no effect on the demand for farm labor and farmland in the United States.
C) The demand for farm labor and farmland was driven up in the United States.
D) None of these statements are true.
Soviet Union
A former federation of communist republics located in northern Eurasia, existing from 1922 to 1991.
American Wheat
Refers to wheat produced in the United States, a major global exporter of wheat, known for its quality and used both domestically and internationally.
- Analyze factors influencing the demand for labor and land in various scenarios.
- Understand the impact of fluctuations in prices on the need for resources and employment figures.
Verified Answer
MC
Learning Objectives
- Analyze factors influencing the demand for labor and land in various scenarios.
- Understand the impact of fluctuations in prices on the need for resources and employment figures.