Asked by labiba rabbi on Jun 17, 2024
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Under the Food, Conservation, and Energy Act of 2008, if the target price for a bushel of corn was $2.63 and the price of corn fell to $2.25, then a farmer would have received
A) a marketing loan.
B) a transition payment.
C) an acreage allotment.
D) a countercyclical payment.
Food, Conservation, and Energy Act
U.S. legislation enacted in 2008 aimed at governing a wide range of agricultural and food policies, including crop insurance and nutritional programs.
Target Price
A pre-set price determined by a company or government at which a product, especially in agriculture, is aimed to be sold in the market.
Countercyclical Payment
A fiscal mechanism used to reduce the economic fluctuations by providing economic support during downturns and less support during growth periods.
- Dissect the role of government enactments on the economics of agriculture, focusing keenly on price support schemes and subsidies.
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Learning Objectives
- Dissect the role of government enactments on the economics of agriculture, focusing keenly on price support schemes and subsidies.
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