Post Utme Futa 2018 Economics Question 38

Practice objective / multiple choice question 38 from the 2018 Post Utme Futa Economics examination.

Post Utme Futa 2018 Economics Objective / Multiple Choice
Question 38 POST_UTME_FUTA • 2018 • ECONOMICS • objective

A country's agricultural sector is characterized by a high degree of price rigidity. This means that farmers are reluc\tant to adjust their prices in response to changes in market conditions. What is the likely effect of this price rigidity on the country's agricultural sector?

Answer Options

A. Increased production and employment
Correct Answer B. Decreased production and employment
C. No effect on production and employment
D. Increased prices and decreased production
Correct Answer
B
Correct Option:
Decreased production and employment

About This Question

This is Post Utme Futa 2018 Economics Question 38. It is one of the objective questions from the 2018 Post Utme Futa Economics examination.

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