Which of the following is a major justification for public aid to agriculture in the United States?
A) The demand for farm products is income elastic.
B) Technological progress has greatly reduced the demand for farm products.
C) Farmers sell their products in highly imperfect markets and buy resources in highly competitive markets.
D) Farmers are subject to extraordinary hazards that are hard to insure against.
Correct Answer:
Verified
Q150: Because the demand for agricultural products is
Q151: A parity ratio of 0.6 in year
Q152: In a purely competitive market, how would
Q153: A declining parity ratio implies that the
A)
Q154: If price supports are established and producers
Q156: The price of a certain farm product
Q157: The agricultural price support program in the
Q158: Which of the following is not a
Q159: The concept of parity in farm policy
Q160: Farm price support programs tend to
A) benefit
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