Vincennes University

AGBS 434

Chapter 8

1)Landowners benefit and tenants lose from both zoning and public purchase of development rights.

2. Water prices are determined by the interaction of supply and demand forces in a functioning market.

3. Agriculture has no potential to produce energy.

4. When resources are not allocated in a manner that is consistent with demands of society, the market fails, and regulation occurs.

5. Farmers would lose if water prices were determined by the interaction of supply and demand forces in a functioning market.

6. Farmers would gain if water prices were determined by the interaction of supply and demand forces in a functioning market.

7. The Endangered Species Act requires cost-benefit analysis

8. Genetic diversity is more important in the biotechnology age.

9. If farmers convert fragile land to cropland, cross compliance provisions of the farm bill prohibit them from receiving farm program benefits.

10. State governments are the primary regulators of water policy

11. Land is the limiting resource to maintaining a world food supply-demand balance.

12. Current water policy discourages waste and encourages efficient use of water.

13. Urban residents are the largest user of farmland.

14. The god squad has the authority to allow an endangered specie to die if the costs to save the specie shut down economic activity in an area.

15. The federal government is the primary regulator of endangered species

16. The taking of an endangered specie is prohibited regardless of its cost.

17. Policies regarding the amenities derived from farmland tend to be concentrated in the Midwest where most of the farm production exists.

18. Use value appraisal of farmland for tax purposes prevents farmland from being developed

19. Self-interest is the primary motivator of farmer’s decisions on the use of natural resources.

20. A preferential agricultural property tax appraisal typically results in land not being developed