All of the Following Result from Price Floors in Agriculture

question 227

Multiple Choice

All of the following result from price floors in agriculture EXCEPT

• A) surpluses of agricultural products that have price floors.
• B) higher prices to consumers for agricultural products that have price floors.
• C) lower prices to consumers for agricultural products that have price floors.
• D) governmental bureaucracy.

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Definitions:

General Journal

A journal used to record all types of accounting transactions with detailed explanations.

Permanent

Refers to accounts that represent the financial standing of a company and carry their ending balances over from one accounting period to the next, such as assets, liabilities, and equity accounts.

Federal Treasury

A government's department responsible for managing public revenue, including issuing currency, collecting taxes, and funding public services.