Point out the term for producer goods such as machinery that is used in production of commodities ?

Related Mcqs:

1. An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?

   A. relatively small; more difficult
   B. relatively small; easier
   C. relatively large; more difficult
   D. relatively large; easier

2. Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

   A. I and III only
   B. II and III only
   C. I, II and III only
   D. I, II , III only IV

3. Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?

   A. Open trade
   B. Free trade
   C. Open sky trade
   D. Easy trade

4. In the economy when a steel producer sells steel to car producer it is regarded as ?

   A. a final good
   B. an intermediate good
   C. an injection
   D. a leakage

5. A number of relating prices of a group of commodities to their prices during an arbitrarily chosen based period is called ?

   A. Price index
   B. Price indexing
   C. Price fixing
   D. Price choosing

6. Unlike a black market, what is called a system of secretly selling or trading commodities which is not necessarily illegal ?

   A. Grey market
   B. White market
   C. Red market
   D. Open market

7. Technological improvements in agriculture that shift the supply of agricultural commodities to the right tend to ?

   A. increase total revenue to farmers as a whole because the demand for food is elastic
   B. increase total revenue to farmers as whole because the demand for food is inelastic
   C. reduce total revenue to farmers as a whole because the demand for food is elastic
   D. reduce total revenue to farmers as a whole because the demand for food is inelastic

8. A production subsidy that is granted to a producer of an import-competing good ?

   A. does not require government taxes to finance it
   B. yields the same deadweight welfare loss as an import tariff or import quota
   C. has only a consumption effect deadweight loss
   D. has only a protective effect deadweight loss

9. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

   A. Relative Advantage
   B. Complete Advantage
   C. Comparative Edge
   D. Comparative Advantage

10. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle?

    A. Relative Advantage
    B. Complete Advantage
    C. Comparative Edge
    D. Comparative Advantage