Gross profit does NOT include:
1.Rent of land owned by the firm
2.Interest on capital owned by firm
3.Pure profit
4.Taxes
Posted Date:-2021-08-20 11:40:02
In economics capital refers to:
1.Money
2.High quality goods
3.Trade mark
4.Machinery and factories
Posted Date:-2021-08-20 11:40:02
Risks in the business arise because of:
1.Introduction of the new products
2.Uncertain policy of rival firms
3.Changes in tastes
4.All the above
Posted Date:-2021-08-20 11:40:02
The following affect rent EXCEPT:
1.Better location
2.Fertility of land
3.Cleverness of landlords
4.Scarcity of land
Posted Date:-2021-08-20 11:40:02
According to Keynes interest is a payment for:
1. Consumer s preference
2.Producer s preference
3.Liquidity preference
4.State Bank s preference
Posted Date:-2021-08-20 11:40:02
According to Keynes, interest is a payment for:
1.Use of durable goods
2.Use of capital
3.Use of money
4.Use of land
Posted Date:-2021-08-20 11:40:02
According to Professor Knight risks are of _____ kinds:
1.2
2.3
3.4
4.many
Posted Date:-2021-08-20 11:40:02
As for the cost of production of an individual farmer, the rent paid by him:
1.Enters into the price of his product
2. Does not enter into price of his product
3.Is unjustified
4. None of these
Posted Date:-2021-08-20 11:40:02
Doctors get higher wages than clerks because:
1.Doctors are in short supply
2.Doctors have more respect in society
3.Doctors are organised in trade unions
4.People fear doctor s displeasure
Posted Date:-2021-08-20 11:40:02
Every factor of production gets reward equal to its:
1.Cost
2.Marginal product
3.Price
4.Increasing return
Posted Date:-2021-08-20 11:40:02
He presented a theory of rent:
1.Malthus
2.Allama Iqbal
3.Ricardo
4.Marshall
Posted Date:-2021-08-20 11:40:02
If rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is:
1.90
2.90.9
3.95
4.110
Posted Date:-2021-08-20 11:40:02
Profits:
1.Are residual payment
2. Are pre-determined
3.Are fixed contract
4.Are always higher than wages
Posted Date:-2021-08-20 11:40:02
Profits:
1.Are lower in the long run than in the short run
2.Can be negative
3.Are less in perfect competition than in monopoly
4.All of the above
Posted Date:-2021-08-20 11:40:02
Some economists say that profit earner is a kind of:
1.Rent receiver
2.Interest receiver
3.Wage earner
4.Govt. officer
Posted Date:-2021-08-20 11:40:02
Standard of living of workers depends upon their:
1.Nominal wages
2.Real wages
3.Average product
4.Govt. policy
Posted Date:-2021-08-20 11:40:02
This is capital:
1.Money
2.Forests
3.Machinery
4.Trademarks
Posted Date:-2021-08-20 11:40:02
Union leaders are in a better position to bargain for higher wages if demand for labour is:
1.Elastic
2.Inelastic
3.Very large
4.Permanent
Posted Date:-2021-08-20 11:40:02
A firm maximizes profit if:
1.MRP = Wage rate
2.MRP = ARP
3.MRP is rising
4.None of these
Posted Date:-2021-08-20 11:40:02
In which form the largest percentage of national income is earned:
1.Interest income
2.Proprietor s income
3.Employees wages
4.Rental income
Posted Date:-2021-08-20 11:40:02
Interest is paid because:
1.Capital is scarce
2.Capital is productive
3. Capital is attractive
4.Capital is surplus
Posted Date:-2021-08-20 11:40:02
Professor Knight is famous for his theory of:
1.Rent
2.Profit
3.Population
4.Wages
Posted Date:-2021-08-20 11:40:02
Profits arise because an entrepreneur:
1.Prepares plan
2.Innovates
3.Lends money
4. Both (a) and (b)
Posted Date:-2021-08-20 11:40:02
Profits:
1.Are necessary
2.Are unnecessary
3.Can never be negative
4.Are illegal
Posted Date:-2021-08-20 11:40:02
Profits:
1.Are less in the long run than in short run
2.Interest on capital owned by firm
3.Are less in perfect competition than in monopoly
4.All of the above are true
Posted Date:-2021-08-20 11:40:02
Sometimes the supply curve of labour ends:
1.Downward
2.Upward
3.Backward
4.Firstly upward and then downward
Posted Date:-2021-08-20 11:40:02
The economist Ricardo argued that prices were _____ because land rents were _______
1.High, High
2.Low, High
3.High, Low
4.Low, Low
Posted Date:-2021-08-20 11:40:02
The minimum wage is an example of:
1.Price floor
2.Price ceiling
3.Equilibrium wage
4.Efficiency of labour
Posted Date:-2021-08-20 11:40:02
These are kinds of rent EXCEPT:
1.Differential rent
2. Scarcity rent
3.Mobility rent
4.Location rent
Posted Date:-2021-08-20 11:40:02
This is not a function of the entrepreneur:
1.Supervise
2.Innovate
3.Lend money
4.Prepare plan
Posted Date:-2021-08-20 11:40:02
Under Marginal productivity Theory, reward for labour is determined by:
1.Owner
2.Government
3.Labour
4.Marginal product
Posted Date:-2021-08-20 11:40:02
Who is unemployed:
1.Housewife
2.College student
3.A peer who lives on gifts from mureeds
4.A freshly graduated engineer who is searching for a job
Posted Date:-2021-08-20 11:40:02
With decrease in price of bonds, rate of interest:
1.Decreases
2.Increases
3.Does not change
4.None of the above
Posted Date:-2021-08-20 11:40:02