Access the following report from the Federal Reserve Bank of St Louis, and answer the questions that follow:
Find out the average quality farmland values per acre and ranchland or pastureland values per acre in Tennessee for the 2nd quarter of 2013.
https://research.stlouisfed.org/publications/afm/2013/afmq2.pdf
Also, find out what these values were in the 2nd quarter of 2012? The link is provided below:
https://research.stlouisfed.org/publications/afm/2012/afmq2.pdf
Do you see a difference between the values in the quarters mentioned?
Do you see a larger difference in the quality farmland values or the ranchland or pastureland values between the two reports from different years?
If yes, can you provide a possible explanation for the (3) and (4) using your understanding of the income capitalization method and land values as discussed in the lecture and the book?
