Acreage Allotment Programs Were Designed to

question 175

Multiple Choice

Acreage allotment programs were designed to

• A) reduce the supply of agricultural products.
• B) make the demand for farm products more price elastic.
• C) bolster the demand for agricultural commodities.
• D) accelerate the movement of human resources out of farming.

---

Definitions:

Machine-Hours

A measure of production activity that quantifies the number of hours machines are operated in the manufacturing process.

Mark Up

The percentage added to the cost price of goods to cover overhead and profit.

Direct Labor-Hours

This refers to the total number of hours worked by employees who are directly involved in the production of goods or services.

Machine-Hours

A measure of production activity that quantifies the total hours machines are operated in the manufacturing process.