Final answer:
The AAA identified wheat, cotton, corn, hogs, tobacco, rice, and milk as the seven basic farm products for which it would pay farmers to reduce production, aiming to raise commodity prices and alleviate rural poverty.
Step-by-step explanation:
The Agricultural Adjustment Act (AAA), enacted on May 12, 1933, identified seven basic farm products for which it offered payments to farmers to reduce their production. These products were:
- Wheat
- Cotton
- Corn
- Hogs
- Tobacco
- Rice
- Milk
The goal of the AAA was to increase commodity prices by decreasing supply, thereby helping to alleviate rural poverty and restoring profitability to American agriculture. Despite being declared partially unconstitutional by the Supreme Court, the AAA was later modified and continued to influence agricultural policies.