51. Which statement(s) below is (are) TRUE? A As economic development proceeds and the terms of trade for the agricultural sector fall, the prices of agricultural goods fall relative to the prices of industrial goods. B The opportunity cost of educating the children of farming families is lower at planting and harvest time. C In labor-abundant economies such as China and India, technological development emphasizes high-yielding seed varieties and the more intensive use of water and fertilizers. U C A

51. Which statement(s) below is (are) TRUE? A As economic development proceeds and the terms of trade for the agricultural sector fall, the prices of agricultural goods fall relative to the prices of industrial goods. B The opportunity cost of educating the children of farming families is lower at planting and harvest time. C In labor-abundant economies such as China and India, technological development emphasizes high-yielding seed varieties and the more intensive use of water and fertilizers. U C A

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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51. Which statement(s) below is (are) TRUE?
A As economic development proceeds and the terms of trade for the agricultural sector fall, the
prices of agricultural goods fall relative to the prices of industrial goods.
B The opportunity cost of educating the children of farming families is lower at planting and
harvest time.
C In labor-abundant economies such as China and India, technological development
emphasizes high-yielding seed varieties and the more intensive use of water and fertilizers.
□ C
A

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