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NSC 150 Exam 2 questions with actual answers.
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NSC 150 Exam 2 questions with actualanswers.
People engage in optimization, which is doing the best one can with available resources. ANS - True
What is an externality in a market? ANS - All of the costs and benefits of production of a good are not
internalized in the price.
What is an example of a market failure? ANS - Taxes
What is the law of demand? ANS - When the price of a good rises, the quantity demanded will decline.
Whats the primary disadvantage of a Pigovian tax? ANS - it reduces the quantity produced of the
agriculture good.
In a cap-and-trade system, industry groups set standards on pollution in a particular industrial sector,
which can be bought and sold. ANS - false
What kind of tax is implemented to achieve specific environmental, social, or economical goals that are
hampered by externalities? ANS - Pigovian tax
Whats an example of a positive externality? ANS - Ecosystem services of agriculture
What term describes a market in which there are many buyers but only one seller? ANS - Monopoly
Why have corn prices in recent years? ANS - There has been a demand expansion for corn due to quota
by the ethanol industry.
Policy, or institutional rules, have little influence over human behavior. ANS - false
, Appropriation bills ANS - Bills passed annually to allocate federal funds for specific programs
Authorizing legislation ANS - Bills creating new programs or extending or repealing old ones
Entitlement programs ANS - Provide benefits to all persons who meet eligibility requirements
What is pre emption? ANS - Limitation by a higher level of government on what actions can be taken by
a lower level of government.
What is the role of special interest groups in policy? ANS - They are groups of people who share the
same interests, and work to influence the legislative process and other aspects of policy making.
What is the most substantial piece of legislation that currently affects the food system? ANS - Farm Bill
Farm Bill program focuses on influencing farmer and consumer behavior. ANS - true
in 1906, in reaction to Upton Sinclair's The Jungle congress passed which of the following legislation?
ANS - Meat Inspection Act, Pure food and Drug act, food safety Modernization Act, Homestead act
About what percent of imported fresh produce is inspected at the border? ANS - less than 1%
Which of the following is not a mechanism by which food system policies affect prices? ANS - Privately
funded research
What is the goal of supply management programs? ANS - Keep commodity prices above floors and
below price ceilings
Immigrants to the U.S. who show higher rates of assimilation tend to have poorer diets than those who
maintain more traditional lifestyles. ANS - true
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