A
The process of harvesting all trees in a given area.
Clear cut
Which president created the United States Department of Agriculture?
Abraham Lincoln
Zoning and environmental regulations are examples of what type of power?
Police power
What does the acronym EIS stand for?
An environmental impact study
Yellowstone was the first one.
U.S. National Park
What is the hardest natural resource on Earth?
Diamond
What is the immediate purpose of acreage reduction or set-aside programs?
To manage supply of agricultural commodities.
What policy tool restricts producers to planting only a specific number of acres for a specific crop?
Acreage allotments
What type of resources are not exclusively controlled by a single agent and maybe managed collectively?
Common Property
What term is used to describe the process whereby a policy mandated reduction in acreage planted by 10 percent results in less than a 10 percent reduction in total output?
slippage
An underground rock formation that stores and yields significant quantities of water is called a(n) _________ .
Aquifer
What was the first toy to be advertised on television?
Mr. Potato Head
What organization has essentially replaced GATT?
World Trade Organization (WTO)
Resource use that considers the needs of current users without compromising future needs is based upon what criterion?
Sustainability
A physical limit on pollution, such as smokestack emissions, is called _________?
Command and control policy, or Direct control
Riparian Rights and Prior Appropriation are examples of:
Doctrines used for water rights
Absorbers of carbon dioxide such as forests and oceans are called _______ _______.
carbon sinks
Which fruit has seeds on the outside?
Strawberry
Property rights which are completely specified, exclusive, transferable, and enforceable are referred to as what type of property rights?
Non-attenuated
Give the time period associated with the following:
a. Exceedingly favorable to agriculture
b. Often referred as the golden "age of agriculture"
c. Used for many years in the estimation of parity prices
1910-1914
When one nation can produce a good more efficiently than another, the efficient nation is said to have what?
Absolute Advantage
A per unit tax on a good or resource for which the use generates a negative externality is called a(n) _______ tax.
a Pigouvian Tax
An import tariff that is constantly adjusted to reflect the difference between the domestic price support level and the prevailing world price.
variable levy
What color is an airplane’s black box?
Orange
What is meant by cross compliance in federal farm policy initiatives?
the denial of program benefits to farmers who fail to comply with other programs relating to agriculture
The ______ _______ is the maximum price anyone is willing to pay for any unit of a resource. At any price higher, the demand for the resource is zero
choke price
The idea that a country should be self-sufficient and not take part in international trade is known as?
autarky
What Act of Congress exempted agricultural producers from certain types of collusion banned by the Sherman Anti-trust Act.
The Capper-Volstead Act
What US act provided a grant of 160 acres to each family who settled on the land and lived there for five years?
The Homestead Act.
In how many Kentucky counties are bourbon distilleries located?
42