Solved

Because the Demand for Agricultural Products Is Price-Inelastic, Price Support

Question 150

Multiple Choice

Because the demand for agricultural products is price-inelastic, price support programs tend to


A) increase farm income.
B) decrease farm income.
C) have no effect upon farm income.
D) cause farm incomes to fluctuate more than they would without such programs.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q145: The amount of capital used per farmworker

Q146: The 2014 Agriculture Act aims to achieve

Q147: What is the difference between farm commodities

Q148: Domestic farm subsidies improve world trade and

Q149: Incomes of U.S. farmers tend to be

Q151: Since the 1930s, the U.S. government has

Q152: Explain why agricultural demand is unstable.

Q153: The following factors have boosted farm income

Q154: Farm price support programs have other costs

Q155: The reason for the long-run decline of