A Major Feature of the "Freedom to Farm" Act of 1996

question 80

Multiple Choice

A major feature of the "Freedom to Farm" Act of 1996 was the

• A) elimination of price supports and acreage allotments for many agricultural crops.
• B) expansion of government price supports for many agricultural crops.
• C) bolstering of the foreign demand for U.S. agricultural products.
• D) increased support for research on farm productivity to help expand the supply of farm products.

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Definitions:

Compounding Periods

The frequency with which interest is added to the principal balance of an investment, affecting the total interest earned.

Future Value

The value of an investment or a sum of money projected to grow over a specified period of time, often calculated using the interest rate.

Present Value

Present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return, used in time value of money calculations to compare investment options.

Amortized Loan

A loan with scheduled periodic payments that consist of both principal and interest, so the loan is paid off by the end of the term.