Agriculture Exams (Agri Econ) – Page 3

#41. The following are forms of trade restrictions except one:
A tariff
B Import licenses
C Quota
D Subsidy
Answer: Subsidy
#42. The expenditures of the domestic economy on imported goods are called ___________________.
A investment income
B imports
C exports
D transfer payments
Answer: imports
#43. When a country engages in international transactions, it always involves at least two kinds of currencies. The value of domestic currency relative to the foreign currency is called __________.
A None from the choices
B foreign exchange rate
C domestic exchange rate
D foreign exchange
Answer: foreign exchange rate
#44. The fixed exchange rate, on the other hand is determined by ________________.
A the government through the Central Bank
B forces of supply and demand through foreign exchange
C the supply for a particular currency alone
D the demand for a particular currency alone
Answer: the government through the Central Bank
#45. When the Central Bank of the Philippines devaluates its currency against the US dollar, it means that _______________________.
A the value of the peso remains the same
B the value of the peso declines relative to the dollar
C the value of the peso increases against the dollar
D the value of the peso will not be evaluated against the dollar
Answer: the value of the peso declines relative to the dollar
#46. The opposite of devaluation is called _____________.
A depreciation
B evaluation
C revaluation
D appreciation
Answer: revaluation
#47. The opposite of depreciation is called _________.
A evaluation
B revaluation
C depreciation
D appreciation
Answer: appreciation
#48. When the Philippine currency depreciates against the US dollar due to forces of supply and demand, it means that ___________.
A the value of the peso declines relative to the dollar
B the value of the peso remains the same
C the value of the peso increases against the dollar
D the value of the peso decreases against the dollar
Answer: the value of the peso declines relative to the dollar
#49. When evaluation or depreciation occurs, it means that __________.
A the foreigners have to lay more for the devalued currency
B the foreigners cannot determine how much to pay for the devalued currency
C the foreigners have to pay less for the devalued
D the foreigners have to pay the same for the devalued currency
Answer: the foreigners have to pay less for the devalued
#50. When the exchange rate (P/S) increases, the value of the peso relative to the dollar becomes _______________.
A cannot be determined
B remains the same
C weaker
D stronger
Answer: weaker
#51. When the exchange rate (P/S) increases, the value of the peso relative to the dollar becomes _____________.
A cannot be determined
B remains the same
C weaker
D stronger
Answer: weaker
#52. It is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another.
A Technological Change
B Economic Development
C Economic Growth rate
D Economic Growth
Answer: Economic Growth
#53. Advantages are felt when there is an occurrence of economic growth, except:
A Growth and business confidence
B Fiscal dividend
C Higher standard of living
D Inflation risk
Answer: Inflation risk
#54. The______of the economy refers to the manner in which the elements or units of the system are related to one another and the whole.
A Growth
B Structure
C Productive capacity
D Development
Answer: Structure
#55. One of the characteristic of a developing economy the income is ____distributed.
A more inequitably
B less inequitably
C equitably
D None of the above
Answer: equitably
#56. By how much percentage agriculture and fisheries contributes to the GDP of the economy based on the BAS 2011 data.
A 25 percent
B 20 percent
C 19 percent
D 17 percent
Answer: 17 percent
#57. Republic Act _____is known as the Organic Agriculture Act of 2010.
A 8550
B 10068
C 10150
D 8435
Answer: 10068
#58. Agriculture is the key to_____except.
A Poverty alleviation
B Progress
C Profit
D Food security
Answer: Profit
#59. The daily nominal wage rates of agricultural workers during the first half of the year were P 227.23 in palay farms and ____in corn farm.
A P 120.50
B P 150.00
C P 180. 75
D P 175.25
Answer: P 175.25
#60. Economic growth is measured by the annual percentage change in ____GDP.
A Proportional
B Money
C Real
D Nominal
Answer: Real