Ag Finance
_________________ refers to the ease with which an asset can be converted into cash without affecting its market price
Liquidity
If the price elasticity of demand for a good is -.06, then what is the change in quantity demanded that results from a 10% increase in price?
6%
Real GDP measures the value of goods and services produced valued at ________ prices?
constant or base
What animal describes a trader who thinks prices will fall?
Bear
What state has the highest state income tax? Name one of the state(s) that have the lowest.
Cali --> Alaska, TN, Wyoming, New hampsire, florida, SD, Texas Nevada WA
If an agribusiness firm has a net worth of $300,000 and liabilities totaling $400,000, the firm's total asset value will be?
$700,000 = 300K+400K
The production function q=KL exhibits _________ returns to scale.
Increasing
In the classical model, what does the long run aggregate supply curve look like?
A vertical line (perfectly inelastic)
A producer who sells to consumers at a farmer's market is what type of marketing?
Direct to consumer; direct
What Florida lake is named for a Seminole word meaning "plenty big water"?
Lake Okeechobee
To evaluate a decision to switch to a heavier market weight for feeding beef, which type of budget would be the easiest and most appropriate:
whole farm budget
enterprise budget
partial budget
cash flow budget
partial budget
Which regression stat can be expressed as the ratio of the regression sum of square to the total sum of squares?
R-Squared
This term is often used by the media instead of saying Net Exports
the trade balance
A producer who sells a (differentiated product; commodity) and who sells to (consumers; intermediaries) should aim to develop a unique niche market.
Diff prod.; consumers
Who wrote the general theory of employment, interest and money?
John Maynard Keynes
Assume that a firm faces fixed costs of $50,000 and average variable variable costs of $5 per unit. The price per unit is $10. What is the break-even level of output?
10,000 units
The weighted average of possible returns with the weights being the probabilities of occurrence is referred to as: ______________
Expected return
Increasing the discount rate is an example of contradictory ____________ policy.
Monetary
Uber, by raising prices in times when demand is higher engages in what type of marketing?
Surge or dynamic
What breed of beef cattle results in a crossing of Brahman Bulls of about 7/8 pure breeding with purebred shorthorn cows?
Gerts
_____________ involves a strategy for identifying and developing future leaders of a business who may assume the responsibilities of older leaders upon death or retirement
succession planning
Charles always spends 30% of his income on pizza. Let the quantity of pizza be Q, the price be P, and M his income. What is his demand function for pizza?
Q = 0.3M/P
The theory that households respond to budget deficits by increasing their present saving in anticipation of higher future taxes is known as the _________ equivalence theorem.
Ricardian
Marketing seeks to create and manage profitable customer relationships by delivering what to customers?
Value
Which of the following is the paranoia fear of being without your cell phone?
Nomophobia
Communiphobia
Xanthophobia
Nomophobia