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4.Article Elasticity

The report also notes that stockpiling and export

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Unformatted text preview: ext 12 months. The report also notes that stockpiling and export bans are definitely possible for the end of 2012 and 2013 as govern ments try to protect consumers from rising food prices. Rab obank suggests that such efforts will be counterproductive and cause even higher spikes in commodity and food price s. Questions 1. Why is price elasticity of meat and corn low in the w estern world compared (and other developed countries) com pared to countries with lesser income? 2. The Arab Spring was a wave of revolutionary demons trations and protests in the Arab world beginning in 2010. How is the price elasticity of food (especially grain) relate d to such protests?...
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