The 1996 Farm Act actually increased the level of government assistance to farmers.
Answer the following statement true (T) or false (F)
False
In 1996 Congress moved farmers considerably further toward deregulation with two radical changes in farm policy. The first change was the phase-out of deficiency payments, and the second eliminated many restrictions on acreage set-asides. Both changes were intended to focus on stabilizing farm incomes rather than farm prices.
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Actual insurance premiums charged by insurance companies may exceed the actuarially fair rates because:
A) the insurance companies have monopoly rights issued by state regulators. B) the insurance companies are risk averse. C) there are administrative costs and other expenses that must be covered by the premia. D) insurance companies tend to over-state the risks they face.
An increase in the demand for a product means that the:
a. demand curve shifts to the left. b. demand curve shifts to the right. c. supply curve shifts to the right. d. supply curve shifts to the left. e. quantity supplied has increased.