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QUESTION 1 (25 points) One of the components of the Gross Farm Income is Government Payments. Table 1 below shows the amount of support
QUESTION 1 (25 points) One of the components of the Gross Farm Income is Government Payments. Table 1 below shows the amount of support the U.S. government gave to all farmers from 2015 to 2019, in $1,000 dollars, divided into five categories of payments. In 2015, for example, we can see that the government paid farmers the equivalent of $2,687,647,000 ($2.7 billion dollars) in Conservation Payments. Table 1: U.S. Government Payments to all U.S. farms, 2015-2019, $1,000 dollars. Year Countercyclical-type payments Direct payments Conservation payments Marketing loan benefits payments Other payments All 2015 4319085 0 2687647 112443 1457787 2016 4531214 0 3152921 542590 1233885 2017 4007187 0 2973242 485950 1182182 2018 1977422 0 2841402 519095 5058095 2019 1928021 0 3090322 874473 10110644 roblem Set 1 e: Mon Feb 7, 2022 11:59pm Attempt 1 IN PROGRESS Next Up: Submit Assignment 100 Possible Points 0 Add Comment B. How much was paid to all U.S. farms in 2015 and 2017? C. What is the percentage change in total payments between 2015 and 2017? D. What are the other components of the Gross Farm Income? E. What was the percentage change in Other Payments from 2018 to 2019? F. What was the percentage change in Marketing loan benefits payments from 2017 to 2018? G. In Table 2, compute the index numbers for each type of payment (except for Direct Payments which had zero values) and for the total of payments using 2018 as your reference year. H. Interpret the changes in total government payments relative to 2018. I. Which are the two components that grew the most? By what percentage in comparison to 2018? J. In 2015, what was the share of Conservation Payments? Was it the most important category, if not, which one was it, and what was its share?
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