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Economics Study Questions

Identify the definition that best fits the following terms:

  1. Food is most affordable in this country:
    Japan
    Netherlands
    United States
    Australia
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  2. U.S. farm receipts exceed $297 billion per year. The following percentage is exported, on the average:
    5%
    10%
    30%
    50%
    Feedback

  3. Farms and agriculture-related business account for the following portion of the U.S. gross domestic product:
    1/50 (2%)
    1/20 (5%)
    1/4 (25%)
    1/2 (50%)
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  4. Farms and agribusinesses employ the following portion of the U.S. civilian work force:
    1/9 (11%)
    1/6 (13%)
    1/4 (25%)
    1/2 (50%)
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  5. About this much of the United State's land area is used for crop production:
    1/2
    1/12
    1/5
    1/8
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  6. The primary reason that many crop farmers pay several hundred thousand dollars for large harvesting equipment is:
    To impress the bankers
    To impress their neighbors
    End of year equipment sales
    The very short time period when they are able to harvest crops
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  7. Farmers in the Midwest typically have this yield (in bushels) per acre for corn (2012 data):
    123.4 bu.‎
    155.6 bu.
    331.3 bu.
    403 bu.
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  8. The number of swine farms dropped by approximately this amount over the last twenty years:
    10 % (500,000 => 450,000)
    25 % (400,000 => 300,000)
    60 % (1,000,000 =>400,000)
    90 % (700,000 => 70,000)
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Score in Percentage:

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