An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
A. Increasing cost industry B. Decreasing cost industry C. Declining industry D. None of these
Agriculture MCQs
A course of action indented to correct or avoid a problem_________________?
A. Economic principle B. Economic policy C. Economic phenomena D. Economic rationale
Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?
A. Economic efficiency B. Productive efficiency C. Allocative efficiency D. All
An accounting item which decreases the value of an asset___________________?
A. Debit B. Credit C. Depreciation D. None
A labour union which limits its membership to workers with a particular skill ?
A. Labour union B. Craft union C. Credit union D. None
A federal budget deficit caused by a recession and a consequent decline in tax revenues ?
A. Annual deficit B. Cyclical deficit C. Anticipated deficit D. None
A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
A. Income schedule B. Saving schedule C. Consumption schedule D. None
A firm which engages in in the busyness of banking_________________?
A. State bank B. Commercial bank C. World bank D. None
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
A debit which monitory value, an amount awed by a firm or an individual___________________?
A. Lockout B. Logrolling C. Liability D. None