Exam 22: Agriculture: Economics and Policy

If farm state legislators support the food-stamp program to aid the urban poor and urban state legislators in turn support farm subsidies, this is an example of

Which of the following best describes the short-run problem faced by farms?

With a fixed level of farm production, a given shift in demand for a crop will cause a

The parity concept of agricultural policy suggests that farmers should obtain a constant ratio of the prices they receive for their farm products and the prices they pay for goods and services in general.

The percentage of total employment in the U.S. that is accounted for by farms has been declining in the last six decades or so, but the absolute number of farm employment has actually risen slightly over those decades.

A bumper crop of farm products causes

To get the U.S. Senate to pass a farm bill, a U.S. senator from a farm state asks for the support of a U.S. senator from an urban state. The urban-state senator agrees to support the bill, if in return the farm-state senator supports a bill for a mass transit project. This situation is an example of

The Freedom to Farm Act of 1996 aimed to eliminate agricultural price supports and acreage allotments for many crops.

Farm employment in the United States amounted to about what percentage of the total employment in 2017?

The concept of parity in farm policy implies that

From 2010 to 2012, Johnny Deer exclusively grew corn. Under the Food, Conservation, and Energy Act of 2008, Deer

An international agreement reached in 1994, by the world's trading nations provides for

Refer to the table. If government adopts a price support program that sets the price at $7, then the total amount that government will pay to farmers of this product is

Environmentalists generally support price supports because these subsidies motivate additional farm production.

When fixed costs are high relative to variable costs, producers will tend to

Farmers typically sell their products in highly competitive markets and buy in imperfectly competitive markets.

Since 2002, agricultural policy in the United States has

If the prices received by farmers increased and the prices paid by farmers also increased, the parity ratio

The Food, Conservation, and Energy Act of 2008 provided three types of agricultural subsidies: direct payments, countercyclical payments, and marketing loans.

In part as a result of the U.S. government's ethanol program, between 2005 and 2012 the inflation-adjusted price of a bushel of corn