The Farm Security Administration

question 73

Multiple Choice

The Farm Security Administration:

• A) administered the Agricultural Adjustment Act of 1937 (the "Second AAA")
• B) offered loans to marginal farmers (so they could avoid falling into tenancy) and to tenant farmers (so they could purchase their own farms)
• C) provided federal subsidies for the expansion of large farms
• D) established educational programs to teach farmers new agricultural methods
• E) concentrated on rehabilitating devastated soils on the Great Plains

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Definitions:

Total Cost

The full price of producing goods, encompassing both stable and changeable expenses.

Eyeglasses

Corrective or protective devices worn on the eyes, consisting of lenses mounted in a frame, to improve vision or protect the eyes from damage or light.

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the total output.

Average Total Cost

The total cost of production divided by the number of units produced, representing the per-unit cost of production.