The Commodity Credit Corporation (CCC) Instituted Several Policies to Improve

question 7

Multiple Choice

The Commodity Credit Corporation (CCC) instituted several policies to improve the welfare of farmers. Which of the following best describes the programs' effects?

• A) The CCC price supports mandated a one-price policy on all agricultural goods.
• B) The CCC support prices became minimum prices in the marketplace.
• C) The CCC price supports inefficiently allocated resources, which decreased welfare.
• D) If the commodity price increased, according to the free market, then the CCC would command and collect "excess" profits, i.e., revenues in excess of the one-price policy, for use as loanable funds.

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Definitions:

Concussion

A type of traumatic brain injury caused by a blow to the head or body, provoking temporary neurological disruption.

Prefrontal Cortex

The front part of the frontal lobe of the brain, involved in complex behaviors including planning, and heavily implicated in human personality.

Temporal Lobe

A region of the cerebral cortex located beneath the temples, responsible for processing auditory information and encoding memory, as well as being involved in understanding language and emotional response.

Parietal Lobe

A region of the cerebral cortex involved in processing sensory information regarding the location of parts of the body as well as for navigation and understanding numerical information.