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Current farm policy is institutionalized penalization of

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Current farm policy is institutionalized penalization of [#permalink] New post 27 Feb 2009, 23:06
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Question Stats:

55% (02:10) correct 44% (01:13) wrong based on 443 sessions
Current farm policy is institutionalized penalization of consumers. It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year.

Which of the following statements, if true, would provide support for the author’s claims above?

I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices.
II. According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.
III. The average full-time farmers have an average net worth of over $300,000.

(A) I only
(B) II only
(C) III only
(D) I and II only
(E) I, II, and III
[Reveal] Spoiler: OA
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Re: CR: Farm policy [#permalink] New post 28 Feb 2009, 08:28
ritula wrote:
Current farm policy is institutionalized penalization of consumers. It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year.
Which of the following statements, if true, would provide support for the author’s claims above?
I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices.
II. According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.
III. The average full-time farmers have an average net worth of over $300,000.
(A) I only
(B) II only
(C) III only
(D) I and II only
(E) I, II, and III


Hi mates,

IMO A

I've chosen A thanks to eliminating others.

II out because it talks about ethanol production costs and the question is wider.

III out because it talks about just full-time farmers and alse because the net worth doesn't add any special thing

and because "None" is not among answers, I must be correct

OA and Source?

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Re: CR: Farm policy [#permalink] New post 28 Feb 2009, 10:35
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Current farm policy is institutionalized penalization of consumers. It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year.

Which of the following statements, if true, would provide support for the author’s claims above?

Explanation:
----------------------
I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices. ---> Correct. This option just looks like a restatement of the premise (the only difference is that they have added numbers instead of words).

II. According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4. ---> Clearly provides support for author's claim. Benefit ($1) provided to the farmers is not going to come from money plant; it will come from the taxpayers. Also, increase in production cost will be reflected in increased food prices, which will affect consumers.

III. The average full-time farmers have an average net worth of over $300,000. ---> Irrelevant. How does it show that the farm policy is penalizing consumers and taxpayers?

(A) I only
(B) II only
(C) III only
(D) I and II only
(E) I, II, and III
----------------------

Clearly, option D.

Hope that helps.


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Re: CR: Farm policy [#permalink] New post 28 Feb 2009, 11:18
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Re: CR: Farm policy [#permalink] New post 28 Feb 2009, 16:39
Very confusing question. Initially, I thought options I and II are correct. But, I will go only with I because, II does not support the fact that each year, the policy costs billions of dollars to tax payers.
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Re: CR: Farm policy [#permalink] New post 28 Feb 2009, 22:29
OA is D. thanks Technext for the explanation
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Re: CR: Farm policy [#permalink] New post 01 Mar 2009, 11:24
ritula wrote:
OA is D. thanks Technext for the explanation


What's the source of this question?

consider the second given statement :

According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.

How would one deduce a multiple of billion for the costs? this statement only talks about the proportions.
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Re: CR: Farm policy [#permalink] New post 02 Feb 2010, 05:55
Quote:
What's the source of this question?

consider the second given statement :

According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.

How would one deduce a multiple of billion for the costs? this statement only talks about the proportions.
ritula wrote:
OA is D. thanks Technext for the explanation


What's the source of this question?

consider the second given statement :

According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.

How would one deduce a multiple of billion for the costs? this statement only talks about the proportions.



I second that....the logic behind II being a supporting statement is not convincing.
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Re: CR: Farm policy [#permalink] New post 02 Feb 2010, 06:30
Without using outside knowledge that ethanol costs drive up food costs, I don't see how II increases food costs for low/middle income people.
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Re: CR: Farm policy [#permalink] New post 02 Feb 2010, 11:31
I agree I and II so answer D is correct
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Re: CR: Farm policy [#permalink] New post 02 Feb 2010, 21:26
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Current farm policy is institutionalized penalization of consumers. It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year.
Which of the following statements, if true, would provide support for the author’s claims above?


I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices. affects consumer since food prices increases due to farm subsidies
II. According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.
benefits given to farmers affects taxpayers
III. The average full-time farmers have an average net worth of over $300,000. networth of farmers doesn't affect tax payers and consumers so irrelavant

only option I and II support authors claim

so my choice is D
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Re: CR: Farm policy [#permalink] New post 02 Feb 2010, 22:50
Wow! that's a confusing one!
Thanks for posting!
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Re: CR: Farm policy [#permalink] New post 11 Feb 2010, 09:26
Clearly D as III is completely irrelevant.
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Re: CR: Farm policy [#permalink] New post 11 Feb 2010, 13:00
D
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 07:52
silasaaa2 wrote:
Current farm policy is institutionalized penalization of consumers. It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year.
Which of the following statements, if true, would provide support for the author’s claims above?


I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices. affects consumer since food prices increases due to farm subsidies
II. According to a study by the Department of Agriculture, each $1 of benefits provided to farmers for ethanol production costs consumers and taxpayers $4.
benefits given to farmers affects taxpayers
III. The average full-time farmers have an average net worth of over $300,000. networth of farmers doesn't affect tax payers and consumers so irrelavant

only option I and II support authors claim

so my choice is D



hw would farm subsidies increase food prices and tat too for middle- and low-income families and costs the taxpayer billions of dollars a year. It might cost taxpayers billions of dollars. bt fud price increase - i couldnt gt tat. plz explain?
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 09:22
Easy D
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 09:50
Thanks guys, but i still agree with sanjay_gmat. how can u know it will cost millions?

thanks.
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 12:14
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 13:18
can you please post the source of this question? i don't see anything in statement 2 that supports costing the taxpayer billions of dollars per year.
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Re: CR: Farm policy [#permalink] New post 07 Feb 2011, 13:22
yea - same problem for me...
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Re: CR: Farm policy   [#permalink] 07 Feb 2011, 13:22
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