361 Chapter 16 Public Goods and Public Choice PUBLIC POLICY farm Subsidies The Agricultural Marketing Agreement Act became law in 1937 to prevent w...

Chapter 16 Question 8 Case Study: From Subsidies: Subsidy programs are likely to have a number od secondary effects in addtion to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?a. Housing pricesb. Technological change in the dairy industryc. The price of diary product substitutes