Real Estate Economics – 5th Edition - by Huber, Messick, and Pivar
Chapter 11 Bonus Quiz
Copyright January 2011, Educational Textbook Company
1. According to the Department of Agriculture, a farm is an enterprise having agricultural income of over:
a. $1,000.
b. $2,500.
c. $10,000.
d. $25,000.
2. Our largest dairy state for milk and cheese production is:
a. Wisconsin.
b. Minneapolis.
c. New York.
d. California.
3. The following is a true statement as to farms:
a. the average age of farmers has been decreasing.
b. farmland values have not been adversely affected by the recession.
c. the actual number of farms has increased since 1930.
d. when large farms are cut up into small farms, productivity is reduced.
4. the following are true as to subsidies, except:
a. subsidies go to crops well suited to large scale production.
b. the majority of federal subsidies goes to the farms having the lowest income.
c. corn subsidies are positive subsidies that encourage production.
d. irrigation water is sold to farmers at less than its cost.
5. Marginal land is most likely to be taken out of production when it:
a. is owned by the farmer without debt.
b. is corn producing land.
c. is rented land.
d. was not profitable in the prior year.
6. Which type of farmland is likely to have the highest value per acre?
a. Wheat growing land
b. Pasture
c. Rangeland
d. Fruit and nut orchards
7. Which type of farmland would have the lowest average price per acre?
a. Field crops
b. Row crops
c. Rangeland
d. Fruit and nut orchards
8. America lost much of our international grain market in 1980 because of:
a. lack of rain.
b. the grain embargo against Russia.
c. insects.
d. diversion of shipments.
9. The largest foreign ownership of U.S. farmland are owners from:
a. Canada.
b. Germany.
c. Japan.
d. China.
10. Large dairy farms are dependent on labor from:
a. college students.
b. immigrants.
c. migrant workers.
d. jails and prisons.
11. The largest private owner of forest land in the United States is:
a. Asian Pacific.
b. Plum Creek.
c. American Paper.
d. Kimberly Clark.
12. An agricultural use for Brownfields, would be:
a. root crops.
b. fruit and nut trees.
c. bioenergy crops.
d. cattle grazing.
13. The average size farm in the U.S. is most nearly:
a. 50 acres.
b. 100 acres.
c. 200 acres.
d. 400 acres.
14. Which of the following types of farms would likely be economically viable?
a. Large family farm
b. Residential farm
c. Retirement farm
d. Limited resource farm
15. When home prices exceed the building cost plus lot cost, you would expect:
a. housing prices to drop.
b. lot prices to rise.
c. construction to decrease.
d. lot prices to fall.
Real Estate Economics – 5th Edition - by Huber, Messick, and Pivar
Chapter 11 Bonus Quiz Answers
Copyright January 2011, Educational Textbook Company
1. a (p)
2. d (p)
3. d (p)
4. b (p)
5. c (p)
6. d (p)
7. c (p)
8. b (p)
9. a (p)
10. b (p)
11. b (p)
12. c (p)
13. d (p)
14. a (p)
15. b (p)
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