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.