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Agricultural Economics-Data Intensity 2 Multiple Questions and Answers.
| 1. | Nominal income adjusted for inflation_____? | ||
| A. | Real income | ||
| B. | Net income | ||
| C. | Total income | ||
| D. | None of Above | ||
| 2. | A tax imposed by a nation on an imported good is called____? | ||
| A. | Tariff | ||
| B. | Foreign exchange | ||
| C. | Net profit | ||
| D. | GNP | ||
| 3. | The body of knowledge and techniques which can be used to produce goods and service from economic resources is____? | ||
| A. | Technology | ||
| B. | Advanced knowledge | ||
| C. | Both A & B | ||
| D. | None of Above | ||
| 4. | The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is____? | ||
| A. | Trade surplus | ||
| B. | Trade deficit | ||
| C. | Trade bloc | ||
| D. | None of above | ||
| 5. | An economic system in which traditions and customs determine how the economy would use its scare resources ? | ||
| A. | Traditional economy | ||
| B. | Mixed economy | ||
| C. | capitalistic economy | ||
| D. | Command economy | ||
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