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1) It is prudent for the family to earn more than it spends; therefore, it is prudent for the government toearn more than it spends. This statement is an example of
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The stock of XYZ Corp. currently trades at $20/share. Its P-E ratio is 12 and its dividend yield is 5%.How much will the next quarterly dividend be?
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Food and Resource E
Food and Resource Economics Drummond Final Fall 2005
| Question | Answer |
|---|---|
| 1) It is prudent for the family to earn more than it spends; therefore, it is prudent for the government toearn more than it spends. This statement is an example of | the fallacy of composition |
| The stock of XYZ Corp. currently trades at $20/share. Its P-E ratio is 12 and its dividend yield is 5%.How much will the next quarterly dividend be? | D) can't tell based on the information provided |
| Which of the following is part of M1? | A) Treasury bills held by the general publicB) time depositsC) balances in money market mutual fundsD) certificates of depositE) none of the aboveAnswer: E |
| Commercial banks may hold required reserves as | D) either vault cash or balances with the Fed |
| If the economy is experiencing a high rate of inflation, the appropriate policy for the Fed to adoptwould be to | A) sell bonds |
| The total value of all final and intermediate goods and services produced during a period of timeis called | A) national incomeB) gross income productC) gross national productD) gross domestic productE) none of the above |
| The "father" of neo-classical (contemporary) macroeconomic theory is | D) John Maynard Keynes |
| As a result of the approval of the NAFTA trade treaty, | some American producers will be worse off and others will be better off |
| The impact of a tariff is paid entirely by the | A) exporting consumerB) importing producerC) importing consumerD) exporting producerE) none of the aboveAnswer: E |
| Which of the following is NOT true about production functions? | B) economic relationship |
| In general, economic profits _________ accounting profits. | are less than |
| An industry in which firms have a relatively high proportion of total costs in fixed costs | B) will be subject to wide price fluctuations |
| What characteristic is indicative of oligopolies? | interdependence of firms |
| Natural monopolies occur in industries with | high fixed costs |
| The defining characteristic of a monopoly is | A) entry is blocked |
| A consumer consumes two goods: hamburgers and fries. As a result of a decrease in the price ofhamburgers, ceteris paribus, the quantity consumed of hamburgers rises and the quantity consumed offries rises. Therefore, | B) the real income effect is stronger than the substitution effect |
| The elasticity of demand for clams is -0.45. Therefore an upward (inward) shift of the supply of clams, ceteris paribus, would result in | E) higher revenues for clam producers |
| Price discrimination is appropriate behavior of a firm facing a market in which | E) different market segments have different demand elasticities |
| Farm level demand | is more inelastic than retail demand |
| The Farm Credit System gets the money it lends out to farmers from | A) the Farm Service AgencyB) the U.S. TreasuryC) the U.S. Department of AgricultureD) "Farmer Mac"E) none of the aboveAnswer: E |
| 40)Prior to World War II, the sentiment in the U.S. was very __________, but after the war there wasa strong sentiment for _______________. | C) isolationist; internationalization |
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dmcelroy
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