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Current farm policy is institutionalized penalization of

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Current farm policy is institutionalized penalization of [#permalink]

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02 Sep 2005, 08:26
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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 authorâ€™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 Senior Manager Joined: 13 Jan 2005 Posts: 331 Followers: 1 Kudos [?]: 2 [0], given: 12 Show Tags 02 Sep 2005, 08:40 IMO B. I am so tempted to choose D. But to include (I) would involve a lot of assumptions - Federal earnings primarily come from taxes paid by consumers, and that the higher prices of$12B primarily effects the low and middle income consumers.

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02 Sep 2005, 13:26
I. Farm subsidies amount to roughly $20 billion a year in federal payouts and$12 billion more in higher food prices

I do not understand the sentence...can somebody explain...
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Fear Mediocrity, Respect Ignorance

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02 Sep 2005, 15:59
I echo ranga's sentiments..."more" than what??

I guess III is out so betwen I and II. II will certainly give support( as cost to consumers has gone up), so between B and D.
GMAT Club Legend
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Location: Singapore
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03 Sep 2005, 01:46
OA is D.

I. Farm subsidies amount to roughly $20 billion a year in federal payouts and$12 billion more in higher food prices.
- All these payouts will come from taxpayers and the discounts off higher food prizes increases what middle and low income families have to pay

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.
- payouts from taxpayers

III.The average full-time farmers have an average net worth of over \$300,000.
- not important

So I and II are relevant.
03 Sep 2005, 01:46
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Current farm policy is institutionalized penalization of

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