Asked by Emanuela Tigistu on May 10, 2024
Verified
The U.S. Agriculture Act of 2014 did the following, except
A) ending the so-called countercyclical payments to farmers.
B) extending the direct payments to farmers, which were independent of their crop production.
C) creating an insurance program, called price loss coverage, which pays farmers if the price of their crop falls below a specified level.
D) introducing a countywide insurance program called agricultural risk coverage.
U.S. Agriculture Act
A series of federal laws that regulate agricultural production, markets, and prices within the United States, often including subsidies and support for farmers.
Countercyclical Payments
Government payments in the agricultural sector that increase when market prices are low and decrease when market prices are high, intended to stabilize farmers' incomes.
Agricultural Risk Coverage
A policy program in the United States providing income support to farmers against lower revenue from drops in market prices or yields.
- Analyze the effects of government policies on agricultural economics, including price supports and subsidies.
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Learning Objectives
- Analyze the effects of government policies on agricultural economics, including price supports and subsidies.
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