World commodity prices over the past 150 years have: A. steadily decreased in bo

Question

World commodity prices over the past 150 years have:

A. steadily decreased in both the short run and long run.

B. decreased in the long run despite occasional short-run increases.

C. remained constant in the long run despite occasional short-run fluctuations.

D. steadily increased in both the short run and long run

The Economist magazine's Commodities Price Index tracks the prices of the most:

A. important finished goods that are traded internationally.

B. important minerals that are traded internationally.

C. important productive resources that are traded internationally.

D. heavily traded agricultural-based products.

Explanation / Answer

Hi,

Please find the answer as follows:

Part A:

Option B (decreased in the long run despite occasional short-run increases) is the correct answer.

Part B:

Option C (important productive resources that are traded internationally) is the correct answer.

Thanks.

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