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Economics
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In which industry or sector of the economy is output least likely to be affected by the business cycle?
a) Housing construction 
b) Automobile production
c) Agricultural commodities
d) Capital goods production 

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Vaishnavi Kanukurti
Vaishnavi KanukurtiLv10
11 Sep 2020

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Related questions

1. Strong property rights are important for modern economic growth because:

a. They allow governments to extract the gains from private citizen’s investments.

b. People are more likely to invest if they don't fear that others can take their returns on investment without.

c. They ensure an equitable distribution of income.

d. Business cycle fluctuations will be smaller and less likely to disrupt investment patterns.

 

2. A subsistence economy is:

a. A very low-income economy.

b. An economy in which people make what they consume.

c. An economy in which people receive food for pay.

d. All of the above.

 

3. Most economists agree that an effective way of comparing income levels between countries around the world is through the use of:

a. Employment statistics.

b. GDP divided by GNP.

c. Foreign investment.

d. Purchasing power parity.

 

4. Growth depends on which two processes?  

a. Accumulation of assets and making those assets more productive.

b. Harnessing natural resources and marketing them to developed nations at a "fair trade" rate.

c. Exploitation of the agricultural sector in order to advance industrialization.

d. Engaging in free trade while subsidizing domestic agricultural and industrial production.

An economy produces only agricultural products (x) and manufactured goods (y). A quarter of the land in the country is arid and not suitable for agricultural products. Therefore, if half of the arid land is not used at all:

(a) The economy could be productively efficient when the opportunity cost of x (agricultural products) is infinite;

(b) The economy could be productively efficient when the opportunity cost of y (manufactured goods) is zero;

(c) The economy could be productively inefficient with infinite opportunity cost for the production of x (agricultural products);

(d) The economy could be productively inefficient with infinite opportunity cost for the production of y (manufactured goods).

developing countries have shown some progress in growth in the last decade but poverty and food security are still major concerns. Agricultural transformation continues to dominate the scheme of development.
a) Describe 3 ways governments of Less Developed Countries can help inspire agricultural transformation. Part of the Inclusive growth strategy is to assist the minority groups in agriculture while increasing efficiency and productivity in the rural sector.
b) Who are the dominant minority group in this sector and why are they clustered in the rural agricultural sector?
c) What are some of the programs that governments have in place to facilitate this agricultural transformation?
d) Explain how investment in human capital can help agricultural transformation?
e) What is the implication of investment in human capital in both the rural and urban sector?

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