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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 25 Jul 2009, 07:17
00:00
A
B
C
D
E

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  5% (low)

Question Stats:

63% (01:53) correct 36% (01:30) wrong based on 19 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
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Re: farm policy [#permalink] New post 25 Jul 2009, 09:00
answer is 'D' (I and II only)
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Re: farm policy [#permalink] New post 18 Aug 2009, 13:34
Aleehsgonji wrote:
answer is 'D' (I and II only)


And why is that?
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Re: farm policy [#permalink] New post 18 Aug 2009, 13:55
would go with A, as 3 is not related and 2 does not say how much money in total is being subsidized or cost people....

edit: never mind, the argument by the author does not say how much, but rather just penalizes consumers, so 2 also works as it states consumers is being charged way more than farmers benefit. so, I and II both are right hence D.
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Re: farm policy [#permalink] New post 19 Aug 2009, 00:50
i go with D.
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Re: farm policy [#permalink] New post 19 Aug 2009, 01:53
boeinz wrote:
i go with D.


can u explain that?

thanks
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Re: farm policy [#permalink] New post 19 Aug 2009, 17:04
I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices.
> Extracted: "It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year."
> Indeed billions of dollars are committed.

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.
> Extracted: "Current farm policy is institutionalized penalization of consumers."
> Indeed, this policy is lousy because costs associated with the implementation far exceeds the benefits, hence consumers are penalized in a way.
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Re: farm policy [#permalink] New post 20 Aug 2009, 11:14
boeinz wrote:
I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices.
> Extracted: "It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year."
> Indeed billions of dollars are committed.

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.
> Extracted: "Current farm policy is institutionalized penalization of consumers."
> Indeed, this policy is lousy because costs associated with the implementation far exceeds the benefits, hence consumers are penalized in a way.


Thanks
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Re: farm policy [#permalink] New post 01 May 2012, 05:54
[quote="boeinz"]I. Farm subsidies amount to roughly $20 billion a year in federal payouts and $12 billion more in higher food prices.
> Extracted: "It increases food prices for middle- and low-income families and costs the taxpayer billions of dollars a year."
> Indeed billions of dollars are committed.


I agree with the "costs taxpayer billions of dollars". However, I dont see why the subsidies "iincreases food prices for middle- and low-income families"? Thanks.
Re: farm policy   [#permalink] 01 May 2012, 05:54
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