Use supply and demand curves to depict equilibrium price and output in a competitive market for some farm product. Then show how an above-equilibrium price floor (price support) would cause a surplus in this market. Demonstrate in your graph how government could reduce the surplus through a policy that
(a) Changes supply
(b) Changes demand.
Identify each of the following actual government policies as primarily affecting the supply of or the demand for a particular farm product: acreage allotments; food-stamp program; Food for Peace program; a government buyout of dairy herds; export promotion.