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AGEC 429 EXAM #1 QUESTIONSS AND ANSWERS, Exams of Social Sciences

United States International UniversitySocial Sciences

AGEC 429 EXAM #1 QUESTIONSS AND ANSWERS

Typology: Exams

2025/2026

Available from 02/21/2026

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AGEC 429 EXAM #1 QUESTIONSS AND ANSWERS
What do commodity groups hope to gain by providing financial support to an incumbent
Congressman's campaign? Under what circumstances are a commodity groups
message best received? - Answers --They hope to gain the attention of the member
regarding the issue.
-When they have fact based support from an unbiased third party, and a centralized
message.
Why does Texas' influence in DC continue to increase? If you could be a member of the
House or Senate which one would you choose and why? - Answers --population
grows= more seats in the house
-Senate/ more experienced staff, better pay, better offices.
Evaluate this statement. All people are either liberal or conservative on all issues. Say
whether you agree or disagree and provide support for your answer. - Answers -
Disagree, No person is either fully liberal or conservative on every issue. People lean
towards more liberal or conservative based on issue to issue.
Who are the major players in agriculture's iron triangle? - Answers -Farmers, USDA,
legislative branch
As stated in the book, regulations - Answers -are often a result of a negative
externalities
Changes to which of the following would cause movement along a demand curve,
rather than a change (shift) in demand? - Answers -Own price
Which of the following is not true about policy and programs?
-programs implement policy
-policies are guiding principles for action
-it is not important whether the congress shares the president's policy vision
-none of these - Answers -none of these are false
How can a member of Congress avoid the law of unintended consequences? -
Answers -Have their proposal evaluated and analyzed by a third party.
What factors influence a person's policy position? Under what circumstances could a
person's policy position be wrong? - Answers --Facts, beliefs, and values
-If they have incorrect facts about the issue
Explain what capitalization means. What does it have to do with agricultural policy? -
Answers -Capitalization is the process of bidding the value of government benefits into
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AGEC 429 EXAM #1 QUESTIONSS AND ANSWERS

What do commodity groups hope to gain by providing financial support to an incumbent Congressman's campaign? Under what circumstances are a commodity groups message best received? - Answers --They hope to gain the attention of the member regarding the issue.

  • When they have fact based support from an unbiased third party, and a centralized message. Why does Texas' influence in DC continue to increase? If you could be a member of the House or Senate which one would you choose and why? - Answers --population grows= more seats in the house
  • Senate/ more experienced staff, better pay, better offices. Evaluate this statement. All people are either liberal or conservative on all issues. Say whether you agree or disagree and provide support for your answer. - Answers - Disagree, No person is either fully liberal or conservative on every issue. People lean towards more liberal or conservative based on issue to issue. Who are the major players in agriculture's iron triangle? - Answers - Farmers, USDA, legislative branch As stated in the book, regulations - Answers - are often a result of a negative externalities Changes to which of the following would cause movement along a demand curve, rather than a change (shift) in demand? - Answers - Own price Which of the following is not true about policy and programs?
  • programs implement policy
  • policies are guiding principles for action
  • it is not important whether the congress shares the president's policy vision
  • none of these - Answers - none of these are false How can a member of Congress avoid the law of unintended consequences? - Answers - Have their proposal evaluated and analyzed by a third party. What factors influence a person's policy position? Under what circumstances could a person's policy position be wrong? - Answers --Facts, beliefs, and values
  • If they have incorrect facts about the issue Explain what capitalization means. What does it have to do with agricultural policy? - Answers - Capitalization is the process of bidding the value of government benefits into

the price of the most fixed asset. Ag policy studies the mechanisms used to support production agriculture that causes capitalization of government benefits into land. Why is it not surprising that interest groups come up with more policy proposals than other members of the iron triangle? - Answers - interest group members are effected by the issues that need to be addressed in policy on an everyday basis. What interest groups tend to be the most effective general farm organizations or Commodity groups? Why? - Answers - Commodity groups. They consist of people only focused on a single issue, rather than a farm org which represents everybody, is more diverse. The elasticity of demand for agricultural commodities is - 0.3, and the elasticity of supply is 0.5. Explain what each of these numbers mean, and how they are related to the issue of variable farm income. - Answers - The demand for ag commodities decreases 0.3% for every 1% increase in price. The supply for ag commodities will increase 0.5% for every 1% price increase. Who sets the agenda in Washington D.C.? Where do most of the good program ideas come from? - Answers - The party in power. Interest groups/ farm groups who are experiencing the issues first hand. Evaluate this statement. Chronic excess capacity is the root of the farm problem during much of the 20th century. Say whether you agree or disagree and provide support for your answer. - Answers - Agree, chronic excess capacity led to low prices and low incomes for farmers. Evaluate this statement. The law of unintended consequences regarding farm policy is unavoidable. Say whether you agree or disagree and provide support for your answer. - Answers - Disagree. When solving a problem in DC more than likely more problems will be created, unless they analyze every outcome and consequence of each action they take, (Outlaw helps with this) Before the 1940's, cotton was the dominant fiber used in clothing having greater than an 80% share of global fiber use. During the 1940's, man-made fibers were introduced and began to grow in popularity. Explain what has likely happened to the own price elasticity of cotton and why? - Answers - The price elasticity of cotton increased because there are more substitutes for fiber used in clothing. Who are the main players in agriculture's iron triangle? - Answers - 1. interest groups

  1. USDA
  2. Legislative Branch Why is it so important to understand how policy is made? - Answers - So you are able to understand how policy works, what it is, and how to influence it.

Gerrymandering - Answers - redrawing legislative boundaries to benefit the party in power most effective commodity organization - Answers - National Cotton council (supports entire industry from farmer to consumer) Office of management and budget (OMB) USDA secretary White house chief of staff - Answers - Shalanda Young Tom Vilsack Ron Klain Farmers account for what percent of the work force? - Answers - 1.3% Encourages producers in own country to produce more (effects supply) - Answers - Export subsidy (raises price in exporting) Deter from trading, limit importing (effects demand) - Answers - Import Tariff (raises price in importing) putting a cap on quantity produced (effects quantity) - Answers - Import Quota (control price and limit quantity produced in exporting country)