How much did corn subsidies cost per person

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Reference no: EM131099844

In 2009, it was estimated that the total value of all corn production subsidies in the United States totaled about $4 billion. The population of the United States was approximately 300 million people that year.

a. On average, how much did corn subsidies cost per person in the United States in 2009? (Hint: A billion is a 1 followed by nine zeros. A million is a 1 followed by six zeros.) Instructions: Round your answer to two decimal places. $_____ per person

b. If each person in the United States is only willing to spend $0.70 to support efforts to overturn the corn subsidy, and if antisubsidy advocates can only raise funds from 25 percent of the population, how much money will they be able to raise for their lobbying efforts? $ ____ million

c. If the recipients of corn subsidies donate just one percent of the total amount that they receive in subsidies, how much could they raise to support lobbying efforts to continue the corn subsidy? $ _____ million

d. By how many dollars does the amount raised by the recipients of the corn subsidy exceed the amount raised by the opponents of the corn subsidy? $ _____ million

Reference no: EM131099844

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