Economics (McConnell) AP Edition, 19th Edition

Chapter 19: Agriculture: Economics and Policy

Web-based Questions

1
Agricultural Prices—What's up, what's down? The USDA, at www.nass.usda.gov, provides up-to-date color charts of current data for agricultural prices received by -farmers. Click on "Charts and Maps" on the left side. Then click on Agricultural Prices and then on Prices Received. Check the prices received for cattle, corn, cotton, hogs, milk, soybeans, and wheat and describe in general terms the price trend for each over the period shown in the chart. Why is knowing output levels, as well as prices, essential in evaluating how individual farmers have fared in the market over that period?
2
Farm size and farm sales revenue Go to www.nass.usda.gov and click on "Charts and Maps." Then click on some of the links listed under Economics to find information on farm size and farm revenue. Which of these three states had the smallest and largest average farm sizes: California, Florida, or Texas? What was the national average size of farms with sales revenue of less than $10,000 in the latest year? More than $100,000? What percentage of farms had $100,000 or more of sales? What percentage of land was in farms earning $100,000 or more?
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