Macroeconomics and the Farming Industry Article Review by ResearchRiter

Macroeconomics and the Farming Industry
A review of the article "Using Macroeconomics to Explain Entry, Exit and Farm Size in the Dairy Industry in the United States" by Foltz.
# 121873 | 750 words | 2 sources | APA | 2008 | US
Published on Dec 01, 2008 in Business (Industries) , Economics (Macro)


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Description:

The paper reviews a 2004 article "Using Macroeconomics to Explain Entry, Exit and Farm Size in the Dairy Industry in the United States" applying macroeconomic theory. The paper explains the problem of farmers exiting the industry when excess demand depressed prices.

From the Paper:

"In "Using Macroeconomics to Explain Entry Exit and Farm Size in the Dairy Industry in the United States", Foltz applied macroeconomic theory and models to explain farm exits and changes in herd-size among Connecticut dairy farms. Foltz found that a relatively stable inelastic demand caused many farmers to exit the industry when excess demand depressed prices. The demand for dairy products remained relatively stable regardless of price, however excess supply led many farmers to reduce prices..."

Cite this Article Review:

APA Format

Macroeconomics and the Farming Industry (2008, December 01) Retrieved February 16, 2020, from https://www.academon.com/article-review/macroeconomics-and-the-farming-industry-121873/

MLA Format

"Macroeconomics and the Farming Industry" 01 December 2008. Web. 16 February. 2020. <https://www.academon.com/article-review/macroeconomics-and-the-farming-industry-121873/>

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