Agriculture MCQs

Page No. 215

Noble prize of Economics in 1979 was awarded to________________?


aW. Arthur Lewis


bTheodore Schultz


c Both a and b


d None


View Answer Both a and b

The role of power in economic decision making is studied in________________?


a Development economics


b Traditional economics


cPolitical economics


dNone of these


View Answer Political economics

Excess of total revenue over total costs_______________?


aProducer surplus


b Scarcity rent


c Both


d None


View Answer Both

Recurring increase and decrease in the level of economic activity over periods of years?


aBusiness cycle


bCyclic flow


cBoth


dNone


View Answer Business cycle

The rate of exchange of one nation’s currency for another nation’s currency?


aExchange rate appreciation


bExchange rate depreciation


cExchange rate determinant


dNone of these


View Answer None of these

The monitory income a firm sacrifices when it uses a resource it rosins rather than supplying the resource in the market ?


aImplicit cost


bExplicit cost


cEconomic cost


dNominal cost


View Answer Implicit cost

Any resource whose quantity can not be changed by a firm in the short run_______________?


aFixed resource


bVariable resource


c Available resource


dEconomic resource


View Answer Fixed resource

A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs?


aUnderemployment


bFrictional employment


cTemporary unemployment


dNone of these


View Answer Frictional employment

A group of firms which produces identical or similar products__________________?


aPlant


bIndustry


cCompany


dOrganization


View Answer Industry

A debit which monitory value, an amount awed by a firm or an individual___________________?


aLockout


bLogrolling


cLiability


dNone


View Answer Liability

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