Pq

Question 1

What is true for the global milk consumptions in the last 5 years?

Answer 1

Sharply increasing

Question 2

Which asset has the highest average value in dairy farm?

Answer 2

Livestock

Question 3

On the product exchanges which milk product is NOT traded?

Answer 3

UHT milk

Question 4

Which country is NOT a beef exporter?

Answer 4

Australia

Question 5

In which region is the largest growth in demand for beef forecasted?

Answer 5

South and East-Asia

Question 6

Which of the large beef producer regions is NOT free of FMD?

Answer 6

South America

Question 7

Which country is the top beef producer in EU?

Answer 7

France

Question 8

Which of the following is produced in the least amount globally?

Answer 8

Goose

Question 9

Which country is a net poultry meat imported?

Answer 9

EU

Question 10

Which cost has the largest share in the total production cost for broilers?

Answer 10

Feed

Question 11

Which country is the largest egg producer?

Answer 11

China

Question 12

In which EU country is the per capital consumption of fishery and aquaculture products largest?

Answer 12

Portugal

Question 13

How many member states does EU have?

Answer 13

27

Question 14

If an increase in bus fares in London reduces the total revenue of the public transit system, this is evidence that demand is?

Answer 14

Price elastic

Question 15

If a price 5 percent reduction in the price of a good produces a 3 percent increase in the quantity demanded, the price elasticity of demand over this range of demand curve is

Answer 15

Inelastic

Question 16

The income elasticity of demand for grapes is estimated to be 1.50. We can conclude that grapes

Answer 16

Are a normal good

Question 17

The change in quantity demanded resulting from a change in purchasing power as known as the

Answer 17

Income effect

Question 18

Suppose a milking parlor has 2 milking stalls and 2 workers and is able to milk 100 cows per day. When it adds a third stall, but no more workers, it is able to milk 150 cows per day. The marginal product of the third milking stall is

Answer 18

50 cows per day

Question 19

If both the marginal cost and the average variable cost curve are u/shaped, at the point of minimum average variable cost, the marginal cost must be

Answer 19

Equal to the average variable cost

Question 20

Implicit costs are the opportunity cost of using the resources of

Answer 20

Owners

Question 21

What kind of meat is produced in the largest amount globally?

Answer 21

Pork

Question 22

Which country is the largest meat producer in the eu?

Answer 22

Germany

Question 23

Which group of countries are the largest net pork exporters?

Answer 23

USA, EU, Brazil

Question 24

On a production possibilities curve, a change from economic inefficiency to economic efficiency is obtained by

Answer 24

Movement from point inside the curve to a point on the curve

Question 25

Assuming coffee and tea are substitutes, a decrease in the price of coffee, other things being equal, result in a(an)

Answer 25

Leftward shift of the demand curve for tea

Question 26

Yesterday seller “A” supplied 400 units of good X at $10 per unit. Today seller “A” supplies the same quantity of units at $5 per unit. Based on this evidence, seller “A” has experienced an

Answer 26

Increase in supply

Question 27

Suppose autoworkers receive a substantial wage increase. Other things being equal, the price of autos will rise because of an

Answer 27

Leftward shift in the supply curve for autos

Question 28

Consider the market for chicken. An increase in the price of beef will

Answer 28

Increase the demand for chicken, resulting in a higher price and a greater amount of chicken purchased in the market

Question 29

If the eu commission wants to raise the price of cheese, it will

Answer 29

Encourage farmers to produce less cheese

Question 30

Pollution from cars is an example of

Answer 30

Negative externality

Question 31

R