Definition of Agricultural Act of 1949

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TeachMeFinance.com - explain Agricultural Act of 1949



Agricultural Act of 1949

The term 'Agricultural Act of 1949 ' as it applies to the area of agriculture can be defined as ' P.L. 89-439 (October 31, 1949), along with the Agricultural Adjustment Act of 1938, makes up the major part of the permanent law that mandates commodity price and farm income support. The original 1949 Act designated mandatory support for basic commodities and the following nonbasic commodities: wool and mohair, tung nuts, honey, Irish potatoes (excluded in the Agricultural Act of 1954), and milk, butterfat, and their products. Periodic farm bills (most recently the FAIR Act of 1996) make temporary changes in the levels and design of commodity programs'.

Previous 5 Terms:
agravic
Agreement on Agriculture
Agreement State
agrestic
Agribusiness
Next 5 Terms:
Agricultural Act of 1954
Agricultural Act of 1956
Agricultural Act of 1970
Agricultural Adjustment Act (AAA) of 1933
Agricultural Adjustment Act Amendment of 1935




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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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