What are some of the programs that the U.S. government has used since the 1930s to subsidize agriculture?Multiple select question.Farm creditsAgricultural price supportsAgricultural price ceilingsCrop insurance
Question
What are some of the programs that the U.S. government has used since the 1930s to subsidize agriculture?Multiple select question.Farm creditsAgricultural price supportsAgricultural price ceilingsCrop insurance
Solution
The U.S. government has used several programs since the 1930s to subsidize agriculture. Here are the programs that fit your options:
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Farm credits: The Farm Credit System was established in 1916 and has been providing loans and credits to farmers and rural homeowners. It was significantly expanded in the 1930s during the Great Depression.
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Agricultural price supports: The Agricultural Adjustment Act of 1933 established price supports for key commodities, which were intended to stabilize prices by controlling supply.
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Crop insurance: The Federal Crop Insurance Corporation was created in 1938 to protect farmers against crop losses. This program has been expanded and modified several times since its inception.
However, Agricultural price ceilings is not a program used by the U.S. government to subsidize agriculture. Price ceilings are a type of government regulation that sets a maximum price for a product or service, but they are not a form of subsidy.
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