Agricultural Economics MCQ Question and Answer

41

Match the List-I with List-II and select the correct answer:

List-I (Theory)	List-II (Scientists)
a. Absolute income theory	1. J. M. Keynes
b. Relative income theory	2. Milton Friedman
c. Life cycle theory	3. Modigliani and Ando
d. Permanent income theory	4. J. S. Dusenberg

A) a-3, b-4, c-1, d-2 B) a-2, b-3, c-4, d-1 C) a-4, b-3, c-2, d-1 D) a-1, b-4, c-3, d-2

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Answer & Solution

Answer: Option D

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42

The marginal cost curve intersects the average cost curve when the average cost is

A) Maximum B) Minimum C) Uncertain D) Falling

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Answer & Solution

Answer: Option B

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43

The object of a subsistance farm is to produce

A) Essential food crops for family and market B) Only essential food crops for family C) Food and fibre crops for family and market D) None of the above

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Answer & Solution

Answer: Option B

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44

Rent' is the price paid for the use of land. Who said it?

A) Carber B) Richardo C) Keynes D) None of these

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Answer & Solution

Answer: Option B

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45

The RBI came into existence from the year

A) 1935 B) 1942 C) 1947 D) 1930

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Answer & Solution

Answer: Option A

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46

Which one is supply version
1. Adam Smith's
2. David Ricardo's
3. H-C theory
4. Mill's theory

A) 1 and 2 B) 4 and 6 C) 1 and 3 D) 2 and 4

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Answer & Solution

Answer: Option A

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47

MPP (marginal physical products) of a variable input is negative

A) Only in 1^st stage B) Only in 2^nd stage C) Only in 3^rd stage D) Both B and C

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Answer & Solution

Answer: Option C

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48

B-C ratio is used to evaluate mostly

A) Construction of dam B) Construction of building C) Construction of cattle shed D) Construction of Road

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Answer & Solution

Answer: Option A

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49

Consumers equilibrium is attained at

A) $$\frac{{\vartriangle {\text{x}}}}{{\vartriangle {\text{y}}}} = \frac{{{\text{Px}}}}{{{\text{Py}}}}$$ B) $${\text{MRS}} = \frac{{{\text{Px}}}}{{{\text{Py}}}}$$ C) $$\frac{{\vartriangle {\text{y}}}}{{\vartriangle {\text{x}}}} = \frac{{{\text{Py}}}}{{{\text{Px}}}}$$ D) $${\text{MR}}{{\text{S}}_{{\text{yx}}}} = \frac{{{\text{Px}}}}{{{\text{Py}}}}$$

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Answer & Solution

Answer: Option B

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50

For = y = b₀ + b₁ X, if supply is elastic then

A) b₀ is negative B) b₀ is zero C) b₀ is positive D) None of these

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Answer & Solution

Answer: Option A

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Agricultural Economics MCQ Question and Answer | Agriculture MCQ Question