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Essay / Research Paper Abstract
This 7-page paper discusses the macroeconomic impact of U.S. farm subsidies. The ethanol situation is used as an example. Bibliography lists 4 sources.
Page Count:
7 pages (~225 words per page)
File: D0_MTmacrofar.rtf
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Unformatted sample text from the term paper:
tilling the land, bringing forth crops that feed a hungry nation. The vision of the American farm is that of corn, wheat and other grains -- theres a kind of
poetic romance to the concept of "Americas breadbasket," as in the wheat fields of the Midwest, which is where much of the grain is harvested to make bread and other
goodies. Its probably not surprising to learn, however, that many of these "family farms" are kept in business with help from financial
handouts, courtesy of the U.S. government. These "subsidies" as they are called, are paid to farmers for a variety of reasons, depending on the need at the time. They were
launched in the 1930s to help Depression-era farmers who were in danger of losing farms and possibly triggering a food shortage. They continue in to this day and take many
formers, from specific hand-outs to tax breaks for growing a certain type of crop. Even the concept of a "farm" is beyond the romantic notion. The U.S. Department of Agriculture
defines a "farm" as any agricultural operation that has, or could have, a minimum of $1,000 per year in sales (Gaul et al, 2006). Many farms that produce crops earn
a lot more than $1,000 per year. The idea of subsidies is an interesting contrast to what standard economics dubs as supply
and demand. If the farmers and markets were working in economic equilibrium, then it stands to reason that farmers would grow crops that the market wants. If the market is
demanding more bread in a given year, for example, then farmers would grow more grain to make that bread. If corn demand was on an upswing, then farmers could devote
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