Which of the following is a common argument made in support of farm subsidies in U.S. agriculture?Multiple choice question.Importing farm products from the foreign sector represents a national security hazard and a potential source of biological warfare.Wage rates would fall in other industries if farms ceased to exist because of the increase in labor supply.Farmers face imbalances between the prices at which they sell output versus the prices they must pay for the resources to produce said output.Farmers are responsible for the extraordinary increase in the standards of living in the United States.

Over the decades, the arguments made to justify farm subsidies in the United States includeMultiple select question.wage rates would fall in other industries if farms ceased to exist.farmers are responsible for the extraordinary increase in the standards of living in the United States.farmers are subject to extraordinary hazards not faced by most other industries.the "family farm" is a fundamental U.S. institution and should be protected.

In Section 13.5, we saw that farm subsidies generally lack an economic justification. What are the unintended consequences of these subsidies? The quantity of goods produced with the subsidy is ______________ and efficiency is ______________ than the market without a subsidy.Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.atoo low; lowerbtoo high; lowerctoo low; higherdtoo high; higher

Government subsidies to small and large farmers are designed in large part toMultiple Choicestabilize farm income, which would otherwise fluctuate greatly due to market and weather conditions.encourage urban development.increase tax revenue levied on farm production and exports.encourage rural development.promote farm conservation so as to preserve the productive capacity of U.S. agriculture.

Government intervention in agriculture usually involvesGroup of answer choicesPrice supports in order to keep farm incomes highPrice supports in order to keep agricultural imports lowPrice ceilings in order to subsidize U.S. exportsPrice ceilings in order to keep food prices

U.S. farm subsidies allow crops to be sold at an average of ________blank.Multiple Choice20% below the cost of production10% below the cost of production35% below the cost of productiononly 5% above the cost of production