Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 19 - Agriculture: Economics and Policy - Questions - Page 408: 10a

Answer

Yes, historically the problem has been one of too many farmers, and public policy has been oriented toward supporting farm prices and incomes rather than fixing the resource allocation problem. Further, price and income supports have kept people in agriculture that otherwise would have moved to nonfarm occupations.

Work Step by Step

No Work Needed. Conceptual Question.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.