0% 41 Agricultural Economics Quiz 1 1 / 50 A particular set of institutional arrangement and a coordinating mechanism is___________________? Economic system Fascism None Mixed system 2 / 50 The process of improving the quality of all human lives including sustenance, self esteem and freedom________________? All Growth Economic growth Development 3 / 50 In ___________________ we avoid value judgments and focus on facts? factual economics Theoretical economics Positive economics Normative economics 4 / 50 A compensation device through which workers receive part of their pay in the form of share of their employer?s profit___________________? Labour saving scheme Profit maximizing plan Labour laws Profit sharing plan 5 / 50 Total money income received by the individual or recipients of income is called____________________? Personal income Net income None of above Gross income 6 / 50 Total amount of income necessary to raise everyone who is below the poverty line up to that line ? None Absolutely poverty Subsistence income Poverty gap 7 / 50 The percentage of labour force unemployment at any time__________________? Inflation rate Unemployment rate Deflation rate None 8 / 50 An accounting item which increase the value of an asset___________________? Loan Debit None Credit 9 / 50 In developed countries manufactured goods are about ________________% of total export? 82% 57% 60% 90% 10 / 50 Discount rate that causes a project to have a net present value of zero used to rank projects in comparison with market rates of interest? External rate or returns Rate or returns None Internal rate or returns 11 / 50 Building of new factories in particular nation by corporations of other nations ? Discrimination Economies of scale Direct foreign investment Profit maximization rule 12 / 50 A rise in the general level of prices in an economy___________________? Inflation Dearnen Both None 13 / 50 Meaningful statement about the economic behavior or the economy is called_______________________? Both Economic principle None Economic theories 14 / 50 What percentage of Agriculture in GDP? 21.5 18.5 20.9 19.8 15 / 50 The sale of products below sale of production in a foreign country or below the prices charged at home is called ? Monopoly Dumping Subsidy Inflation 16 / 50 A deliberate effort to replace major consumer imports by promoting the emergence and expansion of domestic industries such as textile, shoes etc ? Import substitution Industrialization Autarchy Export substitution 17 / 50 country?s potential for economic growth is greatly influenced by its endowments of__________________? Both a and b Human resources Physical resources None of these 18 / 50 Technologies that by design produce less waste and use resources more efficiently ? Innovative technology Productive technology Clean technologies Efficient technology 19 / 50 The implicit change in real income resulting from the effects of a change in a commodity?s price on quantity demand? Substitution effect Income effect All Labour effect 20 / 50 The households and the business firms of the economy are called__________________? Govt sector Ptivate sector None Public sector 21 / 50 An increase either in real output (GDP) or in real output per capita is called___________________? Economic development Economic growth Growth rate Economic efficiency 22 / 50 The rate of exchange of one nation?s currency for another nation?s currency? Exchange rate determinant None of these Exchange rate appreciation Exchange rate depreciation 23 / 50 Proportion of school aged children who don?t complete a particular school cycle ? Dropout rate All Children un education rate IIIiteracy rate 24 / 50 Urban population in LDC?s_________________? 36% 464% 50% 20% 25 / 50 Year number of deaths per 1,000 population is called? None Death rates Crude mortality rate Both 26 / 50 A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs? Frictional employment Underemployment None of these Temporary unemployment 27 / 50 From of central bank that issues domestic currency for foreign exchange at fixed rates ? Currency board Stock exchange Commercial Bank State Bank 28 / 50 The core value of development is________________? Freedom Self esteem Sustenance All 29 / 50 Employment available resources so that the maximum amount of goods and services is produced? Fringe benefits None Full production Large scale production 30 / 50 A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ? IMF Commercial bank None Islamic Bank 31 / 50 Gradual pay off a loan principle ? Autarchy Amortization Hierarchically AID 32 / 50 A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________? Speculation anti dumping Specialization Spill over 33 / 50 The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ? Centralized planning Circular flow model None Cognitive planning 34 / 50 A good used together with another good is___________________? Complementary good None Superior good Normal good 35 / 50 The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________? None Iaissez faire capital Pure capitalism Both 36 / 50 A demand curve shifts because of change is_____________________? Incomes Consumer tastes Number of buyers in market All of these 37 / 50 A market in which money of one nation can be used to purchase the money of other nation is called____________________? Money market All of these Foreign exchange market International market 38 / 50 An individuals demand curve is down sloping because_____________________? None There is no relation bet P & D Price and quantity demanded are inversely related P & D are directly related 39 / 50 Rates of open unemployment in developing world average ? 35-45% 8-15% 40-60% 20-40% 40 / 50 In less developed nations economic dependency burden is__________________? 55 % of the population 45 % of the population 35 % of the population 65 % of the population 41 / 50 Excess utility over price derived by the consumers because of negative sloping demand curve ? Demand surplus Marginal utility Consumer surplus Producer surplus 42 / 50 An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ? None of these Decreasing cost industry Increasing cost industry Declining industry 43 / 50 The use of foreign currency as a medium of exchange in place of or long with the local currency e.g. (Mdexican Pesos)___________________? Currency substitution Partial substitution Currency devaluation None 44 / 50 Determinant of supply is__________________? Taxes a subsidies Techniques of production All Resource price 45 / 50 The annual amount that a borrower must pay a lender over an above the total borrowed ? Loan None Interest rated Interest 46 / 50 The total amount by the federal govt. of the owner of the govt. securities is called___________________? None Public debt Public good Public finance 47 / 50 The branch of economics which analyze govt. revenues and expenditures is__________________? Public finance Public revenue Public good None 48 / 50 All seem fully employed but in reality much of their time is spent in unproductive activities? Closed underemployment Disguised underemployment Underemployment None 49 / 50 A summary statement of a nations financial transactions with the outside world ? Balance of payments Both a and b Trade off None 50 / 50 A household?s or firm?s income in the form of goods or services ? None Income in kind Extra income Fixed income Provide Your Information Your score is The average score is 52% LinkedIn Facebook Twitter 0% Restart quiz Send feedback Share on facebook Facebook Share on twitter Twitter Share on whatsapp WhatsApp Agricultural Economics Quiz 2Next
