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What does the federal government call the price supports provided to American farmers?
An agricultural subsidy
What did farmers believe raised the price of crops?
Because of how healthy the crops were compared to other unhealthy alternatives
How was agriculture a problem in the economy?
In the early 1900's many farmers were overproducing which meant they were flooding the economy with their goods. Farmers were then slowly decreasing the price of their goods so that the government had to intervene with groups such as The Agricultural Adjustment Act, which paid farmers not to farm. Agriculture was, back then, a major part of the economy.
Pretest - Civics and Economics 7. Excellent weather helps wheat farmers yield a record surplus crop. How will the surplus most likely impact the price of wheat?
This is a test question you need to answer. We don't do your homework.
What was the name of the radical group founded by Samuel Adams in response to higher British taxes?
Son's of Liberty. They were formed by Adams who was one of the biggest smugglers in the colonies. The British LOWERED the tea tax which made the smuggled Dutch tea higher in price than the English. The smugglers were protecting their business and income when they threw the tea in the harbor.
What happens to quantity when price is lowered?
lowered
What happens to quantity supplied when price is lowered?
The price could go up or down (ambiguous) but the quantity definitely would decrease
The price of a 69.45tire is lowered 5.75 for a sale after the sale what is the new price?
After the sale the price returns to 69.45
If demand is elastic and price is lowered total revenue will?
increase
What effect did the assembly line have on the cost of goods?
It lowered the price of goods.
What did the tea do?
it lowered the price of tea It allowed the shipment of tea directly to the colonies.
How do price incentives affect people's behavior when shopping or buying goods?
the prices lowered
What was one outcome of price supports for farmers?
Surplus crops
This New Deal program helped farmers through price support subsidies?
Agricultural Adjustment Act This New Deal program helped farmers through price support subsidies.
The New Deal Program helped farmers through price support subsidies?
Agricultural Adjustment Act was The New Deal Program helped farmers through price support subsidies.
Who lowered the price of the New York Times from 3 cents to 1 cent?
Adolph s ochs
What are the causes of over production?
higher supply than demand, causing the price of the item or items to be lowered.
