| 1 |
For an individual farmer, rent paid by him |
- A. is part of cost and affects price of his product
- B. does not enter into price of his product
- C. is unjustified
- D. cannot be determined
|
| 2 |
According to Ricardo rents are high because prices of produce of land are |
- A. high
- B. low
- C. constant
- D. none of the above
|
| 3 |
Professor Knight is famous for his theory of |
- A. rent
- B. profit
- C. population
- D. wages
|
| 4 |
Profits |
- A. are lower in the long run than in the short run
- B. can be negative
- C. are less in perfect competition than in monopoly
- D. all of the above
|
| 5 |
With decrease in price of bonds, rate of interest |
- A. decreases
- B. increases
- C. does not change
- D. none of the above
|
| 6 |
Interest is paid because |
- A. capital is scarce
- B. capital is productive
- C. capital is attractive
- D. a and b of above
|
| 7 |
If the supply of land is assumed to be perfectly inelastic which of the following rent will it yield. |
- A. Scarcity rent
- B. Differential rent
- C. Quasi rent
- D. Scarcity rent
|
| 8 |
The rent which is paid in the short run due to perfectly inelastic supply of a factor is known as. |
- A. Deffertial rent
- B. Economic rent
- C. Quasi rent
- D. Scarcity rent
|
| 9 |
Marginal land |
- A. is uncultivable land
- B. gets low rent
- C. gets no rent
- D. cannot be sold
|
| 10 |
In economic capital refers to |
- A. money
- B. high quality goods
- C. trade mark
- D. machinery and factories
|
