Loan Deficiency Payment (ldp)

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Farm Policy

  • What type of payment pays the farmer the difference between the market price and a loan rate as a direct payment when the market price is below the loan rate?

Loan Deficiency Payment (LDP)

  • This group is at the top of the policy making influence triangle. They know public opinion, serve the best interests of the community, and have reputations earned through experience.


  • Term that reflects the broader roles that agriculture now plays, such as environmental stewardship, providing open spaces, providing easements for tourism, renewable fuel sources, and so on.


  • What are the four distinct approaches used by economists to analyze policy?

Scientific Approach, Analytical Approach, Evangelistic Approach, and Educational Approach

  • The historical average of planted acres over a number of years is known as _____ _____.

Base acres

  • A guiding principle leading to a course of action or specific program that is pursued by the government is a ______.


  • A (n) _______ ______ is a trade agreement in which member countries have unified social and economic policies.

Economic Union

  • The ______ ______ rule allows countries to exempt “small” domestic support payments.

De minimis

  • Under the ______ _____ rule, an individual who receives payments may also receive payments from up to two other entities in which the individual as up to a 50% interest.


  • The trade policy assumption that: policy changes in a country large in economic strength change world price.

Large Country Assumption

  • Who is the United States Trade Representative?

Rob Portman

  • What is the standing agreement between the U. S. and Mexico in water disputes?

1944 Water Treaty

  • A guiding principle leading to a course of action or a specific program that is pursued by the government.


  • What farm bill or “act” would we revert to if the current 2002 farm bill expired without amendment in 2007?

Agricultural Adjustment Act of 1938

  • What is the term for when we provide financial support to farms and value of the support raises the price of fixed assets?


  • A conclusion about what the role of government ought to be?

Policy Position

  • What two types of payments do farmers not have to produce to receive?

Direct and Counter Cyclical Payments

  • What is the name of the program that increases the prices of a commodity by reducing the numbers of acres being farmed?

ARP or Acreage Reduction Program

  • Guiding principles leading to a course of action or specific program pursed by government is?


  • The effect of a government output reduction program in which acreage is reduced by producers, but output is not reduced:


  • USDA instrument used to regulate commodities, such as produce, by limiting quantities that may be marketed, or establishing requirements on grade, size, maturity, or quality:

Marketing order

  • 1922 legislation that amended the Clayton Act to exempt cooperatives from federal antitrust laws:

Capper-Volstead Act

  • Program to assist landowners, through long term contracts or easements, in restoring or conserving grasslands to their natural state:

Grassland Reserve Program

  • A federally owned and operated corporation created to stabilize, support, and protect farm income and prices through loans, purchases, payments, and other operations:

Commodity Credit Corporation (CCC)

  • What is the law that gave agricultural cooperatives certain exemptions from antitrust laws like the Clayton Act and the Sherman Antitrust Act?

Capper-Volstead Act

  • What is the independent federal agency that regulates trading on the futures exchanges in the United States?

Commodity Futures Trading Commission

  • What production quality control system has been adopted throughout much of the food industry as a method for minimizing the entry of food born pathogens into the food supply in order to protect human health?

Hazard Analysis and Critical Control Point (HACCP)

  • What law directs EPA to restrict the use of pesticides to prevent unreasonable adverse effects on people and the environment taking into account the costs and benefits of various uses?

Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)

  • What type of food was regulated by the Pure Food and Drug Act after the 1906 publishing of Upton Sinclair’s novel The Jungle exposed disgusting details of practices within the meat packing industry?

Adulterated or fraudulently labeled food

  • _________ economies involve value judgments about what should be.


  • The senate has ____ members that serve _____ year terms.

100, 2

  • ________ is direct government intervention through buying commodities.

Price support

  • ARP stands for.

Acreage Reduction Program

  • ______ is when the government is selling a product for less than the average cost of production.


  • In policy, ________ _________ are in the top tier of the “influence triangle.”
    King Makers

  • When a bill is becoming a law, it is the job of the _________ _________ to hammer out differences between the House and the Senate.
    Conference Committee

  • How many representatives does Texas have in the House of Representatives?

  • The _______ _______ Act set up the Cooperative Extension system to communicate new technologies from the USDA directly to farmers.

  • The last farm bill enacted without an expiration date was the Agriculture Act of ____.

  • What is the most regulated product in the U.S.?


  • A policy that has at most a small impact on production and trade is categorized as_______.

Green Box

  • What is an income support payment that increases when prices are low and decreases when prices are high?

Counter-Cyclical Payment

  • A small or zero tariff applied to an import up to a certain quantity which, at this quantity, increases to the specified amount.

Tariff-rate Quota

  • The authority of the President to negotiate trade agreements with approval by Congress but without modification by Congress is called _______.

Trade Promotion Authority

  • The organization whose program is operated jointly with the USDA and the land grant universities to aid dairy producers in keeping milk production and management records.

Dairy Herd Improvement Association (DHIA)

  • A flexible coverage crop insurance product designed by the insured to protect crops from damaging weather conditions during the coverage period selected.

Named peril(s) insurance Also Specified peril(s) insurance.

  • A bank resulting from the mandatory merger of the Federal Land Bank and the Federal Intermediate Credit Bank in each Farm Credit System district

Farm Credit Bank(s) (FCB)

  • A facility to collect, store, and transport irrigation tailwater for reuse in a farm irrigation distribution system.

Tailwater recovery irrigation system

  • The price used to calculate gross revenue for revenue insurance products.

Harvest price

  • What are three of the approaches to economic analysis? Scientific, analytical, evangelistic, and educational

  • What are three of the four different types of Agricultural interest groups?

General farm organizations, commodity organizations, public interest groups, Agribusiness/trade associations

  • What is the committee called that works on coming up with a bill to satisfy both the house and senate?

Conference Committee

  • The ___ __ ___ is caused by the difference between food needs and food demand.

World Food Paradox

  • ____ is the process by which the benefits of governments programs tend to be bid into the value of farm assets.


  • What does OSHA stand for?

Occupational Safety and Health Organization

  • In what federal department is the FDA currently housed?

Department of Health and Human Services

  • What organization did Cesar Chavez found?

The National Farm Workers Association

  • In what year was the Federal Food and Drug Act enacted?


  • What is the Farm Security and Rural Investment Act of 2002 landmark legislation for?

conservation funding and environmental issues

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