The overarching mission of the land-grant system is to combine teaching, research, and extension to create and disseminate knowledge that benefits society. One focus of this mission has been to improve the production capability and economic efficiency of farming. This agricultural mission has...

Recursive aggregate demand and supply functions are used to simulate the ability of the farm sector to adjust during the 1970's to three policy alternatives. Different output demand elasticities and shifts in the supply and demand for farm output were assumed. Within reasonable bounds,...