C++ | MCQs

Explanation

Explanation

Sugarcane needs the maximum water per hectare among these crops.

It requires extensive irrigation due to its high water demand for growth and development.

Explanation

In many developing countries, agriculture plays a significant role in the economy.

It is estimated that around 65% of total export earnings come from agricultural products.

Such as crops, livestock, and fisheries.

Explanation

Mono cropping refers to the practice of growing the same crop on the same land year after year.

This can lead to soil depletion, reduced fertility, and increased pest and disease pressure, making it a less sustainable farming practice.

Explanation

The monetary base consists of reserve plus currency in circulation. 

Explanation

At any level of output where the short-run average cost curve is tangent to the long-run average cost curve, the long-run marginal cost (LMC) is equal to the short-run marginal cost (SMC).

Explanation

• The theory of comparative advantage was presented by David Ricardo.
• He introduced this concept in his book "Principles of Political Economy and Taxation," published in 1817.

Explanation

• In production theory, the short run is a period during which at least one resource is fixed.
• This means that there are constraints on adjusting all inputs to production.
• For example, in the short run, a firm may not be able to change its capital equipment or the size of its factory.
• However, it can adjust variable inputs such as labor.

Explanation

• Inferior goods are the goods which have negative income elasticity.
• This means that as income increases, the quantity demanded for inferior goods decreases.

Explanation

If the household consumes along the budget constraint where MUx/Px > MUy/Py then assuming normal preferences, we are sure that the household could increase its total utility by consuming more of X and less of Y.