Question 1

The concept of Quasi-rent mean

Accepted Answer

A) The rent to the workers 
B) The rent shared by the Landlord and workers 
C) The interest paid to the entrepreneur 
D) The return to a factor of production which is fixed in supply in the short period 
A) The rent to the workers 
B) The rent shared by the Landlord and workers 
C) The interest paid to the entrepreneur 
D) The return to a factor of production which is fixed in supply in the short period

Question 2

Given the price, if the cost of production increases because of higher price of raw materials, the supply

Accepted Answer

A) Decrease 
B) Increase 
C) Remains the same 
D) Any of the above 
A) Decrease 
B) Increase 
C) Remains the same 
D) Any of the above

Question 3

Who has contributed the modem theory of interest rate determination?

Accepted Answer

A) Paul A. Samuelson 
B) Gunnar Myrdal 
C) Knut Wicksell 
D) J.R. Hicks 
A) Paul A. Samuelson 
B) Gunnar Myrdal 
C) Knut Wicksell 
D) J.R. Hicks

Question 4

The 'iron law of wages' is

Accepted Answer

A) The wage-fund theory 
B) The marginal productivity theory of wages 
C) Collective bargaining 
D) The subsistence theory of wages 
A) The wage-fund theory 
B) The marginal productivity theory of wages 
C) Collective bargaining 
D) The subsistence theory of wages

Question 5

Who has sought to measure Consumer's Surplus with the help of indifference curve technique?

Accepted Answer

A) Edgeworth 
B) Alfred Marshall 
C) J.R. Hick 
D) Pareto 
A) Edgeworth 
B) Alfred Marshall 
C) J.R. Hick 
D) Pareto

The concept of Quasi-rent mean

Given the price, if the cost of production increases because of higher price of raw materials, the supply

Who has contributed the modem theory of interest rate determination?

The 'iron law of wages' is

Who has sought to measure Consumer's Surplus with the help of indifference curve technique?

Understanding Rent, Capital, and Profits in Economics

Factor and Product Markets, Equilibrium, and Production Factors

Market Equilibrium and Welfare Economics

Welfare Economics and Efficiency Allocation

Key Concepts in Investment and Economic Analysis

Project Evaluation and International Trade Theories

International Trade Theory and Practice

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Exam 1: Economic Concepts and Theories

The concept of Quasi-rent mean

Given the price, if the cost of production increases because of higher price of raw materials, the supply

Who has contributed the modem theory of interest rate determination?

The 'iron law of wages' is

Who has sought to measure Consumer's Surplus with the help of indifference curve technique?

Understanding Rent, Capital, and Profits in Economics

Factor and Product Markets, Equilibrium, and Production Factors

Market Equilibrium and Welfare Economics

Welfare Economics and Efficiency Allocation

Key Concepts in Investment and Economic Analysis

Project Evaluation and International Trade Theories

International Trade Theory and Practice

Filters