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Agriculture Mcqs

Excess of total revenue over total costs……………?

A. Producer surplus
B. Scarcity rent
C. Both
D. None

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

A. Business cycle
B. Cyclic flow
C. Both
D. None

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

A. Exchange rate appreciation
B. Exchange rate depreciation
C. Exchange rate determinant
D. None of these

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

A. Implicit cost
B. Explicit cost
C. Economic cost
D. Nominal cost

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

A. Fixed resource
B. Variable resource
C. Available resource
D. Economic resource

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

A. Underemployment
B. Frictional employment
C. Temporary unemployment
D. None of these

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A group of firms which produces identical or similar products………………?

A. Plant
B. Industry
C. Company
D. Organization

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A debit which monitory value, an amount awed by a firm or an individual……………….?

A. Lockout
B. Logrolling
C. Liability
D. None

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A tax which is a constant amount at all levels of GDP is termwd as ?

A. Fixed tax
B. Surcharge
C. Lump sum tax
D. None

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A firm which engages in in the busyness of banking……………..?

A. State bank
B. Commercial bank
C. World bank
D. None

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