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26 Jul 2019
Watch the video Economics USA on Perfect Competition and Inelastic Demand. (http://www.learner.org/series/econusa/unit04/) Then answer the following questions in a good-sized paragraph for each question.
1. Economist Nariman Behravesh explains that U.S. farm policy has more to do with politics than economics. Why do farmers have such political power?
2. What does this situation say about economic policy in general?
3. According to Richard Gill, what were the causes of the farm problems of the 1920's?
4. Explain how the inelastic demand curve for milk after the dairy farmers in the 1920's and 30's contributed to the farm problem..
5. Why did voluntary agreements between farmers to control production typically break down?
Watch the video Economics USA on Perfect Competition and Inelastic Demand. (http://www.learner.org/series/econusa/unit04/) Then answer the following questions in a good-sized paragraph for each question.
1. Economist Nariman Behravesh explains that U.S. farm policy has more to do with politics than economics. Why do farmers have such political power?
2. What does this situation say about economic policy in general?
3. According to Richard Gill, what were the causes of the farm problems of the 1920's?
4. Explain how the inelastic demand curve for milk after the dairy farmers in the 1920's and 30's contributed to the farm problem..
5. Why did voluntary agreements between farmers to control production typically break down?
Bunny GreenfelderLv2
28 Jul 2019
