Agriculture mcqs for ztbl test - Set 5

1)   Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___

a. Fiscal policy
b. Economic planning
c. Economizing problem
d. None
Answer  Explanation 

ANSWER: Economizing problem

Explanation:
No explanation is available for this question!


2)   The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is_

a. capital flight
b. capital account
c. capital deficit
d. All of these
Answer  Explanation 

ANSWER: capital deficit

Explanation:
No explanation is available for this question!


3)   A legally determined price above the equilibrium price is__

a. Floor price
b. Ceiling price
c. Equilibrium price
d. None
Answer  Explanation 

ANSWER: Equilibrium price

Explanation:
No explanation is available for this question!


4)   The branch of economics which analyze govt. revenues and expenditures is__

a. Public revenue
b. Public finance
c. Public good
d. None
Answer  Explanation 

ANSWER: None

Explanation:
No explanation is available for this question!


5)   Nominal income adjusted for inflation___

a. Real income
b. Net income
c. Total income
d. None
Answer  Explanation 

ANSWER: Total income

Explanation:
No explanation is available for this question!


6)   A tax imposed by a nation on an imported good is called__

a. Tariff
b. Foreign exchange
c. Net profit
d. GNP
Answer  Explanation 

ANSWER: Net profit

Explanation:
No explanation is available for this question!


7)   The body of knowledge and techniques which can be used to produce goods and service from economic resources is_

a. Technology
b. Advanced knowledge
c. Both
d. None
Answer  Explanation 

ANSWER: Both

Explanation:
No explanation is available for this question!


8)   The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is__

a. Trade surplus
b. Trade deficit
c. Trade bloc
d. None
Answer  Explanation 

ANSWER: None

Explanation:
No explanation is available for this question!


9)   An economic system in which traditions and customs determine how the economy would use its scare resources ?

a. Traditional economy
b. Mixed economy
c. capitalistic economy
d. Command economy
Answer  Explanation 

ANSWER: capitalistic economy

Explanation:
No explanation is available for this question!


10)   Failure to use all available economic resources to produce goods and services is called__

a. Unemployment
b. Underemployment
c. Inflation
d. Deflation
Answer  Explanation 

ANSWER: Inflation

Explanation:
No explanation is available for this question!


11)   The price paid for the use of services of labour per unit of time is called__

a. Salary
b. Income
c. Wage
d. All
Answer  Explanation 

ANSWER: Salary

Explanation:
No explanation is available for this question!


12)   A market in which products households sell and firms buy resources or the services of resources is__

a. Resource market
b. Product market
c. Consumer market
d. Producer market
Answer  Explanation 

ANSWER: Consumer market

Explanation:
No explanation is available for this question!


13)   A measure of average output or real output per unit of input is called__

a. Efficiency
b. Production
c. Productivity
d. None
Answer  Explanation 

ANSWER: Efficiency

Explanation:
No explanation is available for this question!


14)   The households and the business firms of the economy are called___

a. Public sector
b. Ptivate sector
c. Govt secto
d. None
Answer  Explanation 

ANSWER: None

Explanation:
No explanation is available for this question!


15)   The process of deriving principles is called__

a. theoretical economics
b. Economics analysi
c. Both A. and B
d. None of these
Answer  Explanation 

ANSWER: theoretical economics

Explanation:
No explanation is available for this question!


16)   An analytic approach in which we move from general to particular from theory to facts is__

a. Induction
b. Deduction
c. Specification
d. None
Answer  Explanation 

ANSWER: None

Explanation:
No explanation is available for this question!


17)   Wealth of nations” was written by___

a. Lewis
b. Rostow
c. Keynes
d. Adam Smith
Answer  Explanation 

ANSWER: Rostow

Explanation:
No explanation is available for this question!


18)   All goods and services produced in a country in one year are called its___

a. GNP
b. GDP
c. NDP
d. None of these
Answer  Explanation 

ANSWER: None of these

Explanation:
No explanation is available for this question!


19)   Using part of income/saving for more income is called__

a. Investment
b. Busyness
c. Consumption
d. Entrepreneurship
Answer  Explanation 

ANSWER: Consumption

Explanation:
No explanation is available for this question!


20)   Total consumption deducted from total income is called__

a. Net income
b. Gross income
c. Saving
d. None of these
Answer  Explanation 

ANSWER: Net income

Explanation:
No explanation is available for this question!