Review

Economist generally agree that money affects prices with a lag. Research conducted at the Federal Reserve Bank of St. Louis suggests that a change in the growth rate of money is fully reflected in the inflation rate in about five years. 

Each year, more American farmland is being converted to nonfarm uses such as highways, houses, airports, and shopping centers. This development has engendered fear that the decline in farmland will eventually produce a severe crisis for U.S. food production.