Copyright © Philip M. Parker, INSEAD. Terms of Use.
| Domain | Definition |
Agriculture | A 7-year contract covering crop years 1996-2002, authorized by the FAIR Act of 1996 between the CCC and farmers, which makes fixed income support payments in place of the previous variable target price deficiency payments. Farmers are given production flexibility and diversification options on their contract acres not previously allowed on base acres. Each farm's total payment is the payment rate times the payment quantity for participating base acres. In exchange for annual fixed payments, the owner or operator must agree to comply with the applicable conservation plan for the farm, the wetland protection requirements currently in law, and the constraints on growing fruits and vegetables on contract acres. Land enrolled in a contract must be maintained in an agricultural or related activity. The law states that not more than $35.6 billion will be paid over the 7-year period, in declining annual amounts from $5.3 billion in FY1996 to $4.0 billion in FY in 2002. The annual payments are allocated among commodities similar to historical deficiency payments, with 53.6% going to feed grains, 26.3% for wheat, 11.6% for upland cotton, and 8.5% for rice. (references) |
Source: compiled by the editor from various references; see credits. | |
Crosswords: PRODUCTION FLEXIBILITY CONTRACT |
| Specialty definitions using "PRODUCTION FLEXIBILITY CONTRACT": Advance deficiency payments, Agricultural Market Transition Act ♦ Contract acreage ♦ Deficiency payments, Direct payments ♦ Federal Agriculture Improvement and Reform Act of 1996, Freedom-to-farm ♦ Income support ♦ Market transition payments ♦ Payment quantity, PFC, Program crops ♦ Target price. (references) |
Hexadecimal (or equivalents, 770AD-1900s) (references)50 52 4F 44 55 43 54 49 4F 4E 46 4C 45 58 49 42 49 4C 49 54 59 43 4F 4E 54 52 41 43 54 |
| Leonardo da Vinci (1452-1519; backwards) (references)
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Binary Code (1918-1938, probably earlier) (references)01010000 01010010 01001111 01000100 01010101 01000011 01010100 01001001 01001111 01001110 00100000 01000110 01001100 01000101 01011000 01001001 01000010 01001001 01001100 01001001 01010100 01011001 00100000 01000011 01001111 01001110 01010100 01010010 01000001 01000011 01010100 |
HTML Code (1990) (references)P R O D U C T I O N   F L E X I B I L I T Y   C O N T R A C T |
ISO 10646 (1991-1993) (references)0050 0052 004F 0044 0055 0043 0054 0049 004F 004E 0046 004C 0045 0058 0049 0042 0049 004C 0049 0054 0059 0043 004F 004E 0054 0052 0041 0043 0054 |
Encryption (beginner's substitution cypher): (references)505249385537544349482404639584336434643545923749485452353754 |
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Copyright © Philip M. Parker, INSEAD. Terms of Use.
