CSS :: Wages Rent Interest and Profit
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21. |
In economics capital refers to: |
A. |
Money |
B. |
High quality goods |
C. |
Trade mark |
D. |
Machinery and factories |
Answer: Option D
Explanation:
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22. |
If rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is: |
Answer: Option B
Explanation:
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23. |
Professor Knight is famous for his theory of: |
A. |
Rent |
B. |
Profit |
C. |
Population |
D. |
Wages |
Answer: Option B
Explanation:
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24. |
Profits: |
A. |
Are residual payment |
B. |
Are pre-determined |
C. |
Are fixed contract |
D. |
Are always higher than wages |
Answer: Option A
Explanation:
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25. |
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 |
Answer: Option D
Explanation:
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26. |
Profits: |
A. |
Are necessary |
B. |
Are unnecessary |
C. |
Can never be negative |
D. |
Are illegal |
Answer: Option A
Explanation:
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27. |
Profits arise because an entrepreneur: |
A. |
Prepares plan |
B. |
Innovates |
C. |
Lends money |
D. |
Both (a) and (b) |
Answer: Option D
Explanation:
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28. |
Profits: |
A. |
Are less in the long run than in short run |
B. |
Interest on capital owned by firm |
C. |
Are less in perfect competition than in monopoly |
D. |
All of the above are true |
Answer: Option D
Explanation:
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29. |
Gross profit does NOT include: |
A. |
Rent of land owned by the firm |
B. |
Interest on capital owned by firm |
C. |
Pure profit |
D. |
Taxes |
Answer: Option D
Explanation:
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30. |
Some economists say that profit earner is a kind of: |
A. |
Rent receiver |
B. |
Interest receiver |
C. |
Wage earner |
D. |
Govt. officer |
Answer: Option C
Explanation:
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