1. EQ #2 AGEC 105 - Capps (4 pts) September 10, 2012
Suppose that Bill Toney, a tobacco farmer near Roanoke, Virginia has assets of $36 million and liabilities of $12 million. The equity for this tobacco farmer is $___________ million.
As a consumer’s disposable income rises, the proportion of income spent on food falls. This assertion is known as _______.
The portion of food expenditures associated with the activities of firms beyond the farm gate is known as the _______________.
Productivity is defined as the ratio of _______ to _______.