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17th Chapter

ICS Part 1 Economics Chapter 17 MCQs Test

First Year Economics Chapter 17 Online MCQ Test for 1st Year Economics Chapter 17 (Rent, Interest, Profit)

This online test contains MCQs about following topics:

Economic rent, .Gross Vs Net rent, .Ricardo's theory, .Marginal land, .Differnetial rent scarcity rent, .Modern theory of rent, .Rent and price, .Quasi rent, .Rent as unearned income, .Gorss Vs net interest, .Theories of interest, .Liquidity prefernece theory, .Loanable funds theory, .Zero rate of interest, . Gross Vs Net profit, . Theories of profit, Difference between profit and interest,

First Year Economics Chapter 17 Online MCQ Test for 1st Year Economics Chapter 17 (Rent, Interest, Profit)

Sr. # Questions Answers Choice
1 Gross profit includes
  • A. monopoly profit
  • B. pure profit
  • C. windfall profit
  • D. all of the above
2 This is capital
  • A. money
  • B. forests
  • C. machinery
  • D. trademarks
3 Marginal revenue products (MRP) curve falls when units of labour
  • A. Remain constant
  • B. Decrease
  • C. Increase
  • D. None of the three
4 Net rent is also called.
  • A. Different rent
  • B. Quasi rent
  • C. Scarcity rent
  • D. Economic rent
5 He presented a theory of rent
  • A. Malthus
  • B. Allama Iqbal
  • C. Ricardo
  • D. Marshall
6 The concept of quasi rent was given by.
  • A. Ricardo
  • B. Adam smith
  • C. Alfred Marshall
  • D. Robbins
7 These are kinds of rent EXCEPT
  • A. differential rent
  • B. scarcity rent
  • C. mobility rent
  • D. location rent
8 Money wages are also called
  • A. Nominal Wages
  • B. Real wages
  • C. Gross wages
  • D. Net wages
9 With decrease in price of bonds, rate of interest
  • A. decreases
  • B. increases
  • C. does not change
  • D. none of the above
10 Quasi rent
  • A. is permanent
  • B. is temporary
  • C. arises in long run only
  • D. means high rent

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