1 |
Some economists say that profit earner is a kind of |
- A. rent receiver
- B. interest receiver
- C. wage earner
- D. govt. officer
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2 |
Gross profit includes |
- A. monopoly profit
- B. pure profit
- C. windfall profit
- D. all of the above
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3 |
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
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4 |
Money wages are also called |
- A. Nominal Wages
- B. Real wages
- C. Gross wages
- D. Net wages
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5 |
Risks in the business arise because of |
- A. introduction of the new products
- B. uncertain policy of rival firms
- C. changes in tastes
- D. all the above
|
6 |
Marginal land |
- A. is uncultivable land
- B. gets low rent
- C. gets no rent
- D. cannot be sold
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7 |
Gov. of Pakistan introduced labour policy for the first time in. |
- A. 1955
- B. 1950
- C. 1948
- D. 1959
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8 |
According to Ricardo rents are high because prices of produce of land are |
- A. high
- B. low
- C. constant
- D. none of the above
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9 |
One of the following is not an assumption of the Ricardian theory of rent. |
- A. Lands are cultivated in sequence
- B. All lands are homogeneous
- C. All units of labour are identical
- D. There are original and industuctible powers of soils
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10 |
Profits arise |
- A. only in monopoly
- B. because of uncertainty
- C. shortage of goods
- D. like interest
|