What is a schedule showing how much households plan to spend on consumer goods at different levels of disposable income called?
Correct answer B. Consumption schedule
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Agriculture MCQs
Page 3 of Agriculture multiple-choice questions with answers. Tap an option to check yourself.
Page 3 of 135
What is a federal budget deficit caused by a recession and the resulting fall in tax revenue called?
Correct answer A. Cyclical deficit
What do we call a labour union that only admits workers with a particular skill?
Correct answer C. Craft union
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Which accounting item reduces the value of an asset?
Correct answer D. Depreciation
What is obtaining the socially optimal amounts of goods and services using the minimum necessary resources called?
Correct answer D. All
What is a course of action designed to correct or prevent an economic problem called?
Correct answer C. Economic policy
What is an industry called whose economic profits are negative, so that its output falls as firms leave?
Correct answer A. Declining industry
What is the building of new factories in a country by corporations from other countries called?
Correct answer C. Direct foreign investment
What term describes a rise in the price level that is faster than expected?
Correct answer A. Unanticipated inflation
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What is the total number of money units a firm receives from selling a product called?
Correct answer B. Total revenue
What is a payment of funds by a government, firm or household for which it receives no goods or services in return called?
Correct answer D. Subsidy
What is an ownership share in a corporation called?
Correct answer D. Stock
What is the use of the resources of an individual, firm, region or nation to produce one or a few goods and services called?
Correct answer A. Specialisation
What is an interest-bearing deposit that the depositor can normally withdraw at any time called?
Correct answer B. Savings deposit
What is the essentially risk-free, long-term interest rate that is free of the influence of market imperfections called?
Correct answer A. Pure rate of interest
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What is a good or service that is indivisible and to which the exclusion principle does not apply called?
Correct answer C. Public good
What is the coordinating mechanism of a capitalist economy?
Correct answer B. Market and prices
What does the point where supply and demand curves intersect show?
Correct answer D. Market equilibrium
Which of the following is a determinant of supply?
Correct answer B. All
Which principle states that, other things being equal, quantity supplied rises as price rises and falls as price falls?
Correct answer C. Law of supply