The commercial farm problem has been defined as an excess of farm output over utilization at "satisfactory" prices. Evidence of farm production in excess of market outlets has been apparent in declining farm commodity prices and net incomes, growing stocks of farm products, or large Government...

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,...