Which of the following is NOT a criticism of the Labour Theory of Value

The theory assumed the immobility of capital

Which of the following is an assumption of the Theory of rent?

The theory assumes that land has indestructible power

Why was David Ricardo kicked out of his family?

fell in love with a girl with a different religion

What inspired David Ricardo to publish his first article?

After reading “Wealth of Nations” by Adam Smith, Change in the gold standard system in England

Which of the following is NOT CORRECT about the theory of rent?

Increase of population decreases average rent

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David Ricardo

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Multiple choice questions

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Answers

1
Which of the following is NOT a criticism of the Labour Theory of Value
Assumes that land has no other uses, which is not realistic
Ignored the qualitative differences in labour
Restricts the role of demand to a special class of goods
The theory assumed the immobility of capital
2
Which of the following is an assumption of the Theory of rent?
none of the above
The theory assumes that land has indestructible power
The theory assumes a monopolistic market
The theory assumes that land's fertility is not original
3
How did David Ricardo receive education ?
School
Not educated
With tutors at home
Noble school
4
Why was David Ricardo kicked out of his family?
fell in love with a girl with a different religion
poor performance at school
refused to go to school
slapped his father
5
What was his first article's name?
the High Price of Bullion
Essay on Profits
Labour theory of value
On the Principles of Political Economics
6
Where was David Ricardo born?
Portugual
Greece
England
America
7
What was his family's social status ?
Middle class
Extremely poor (no food/ no clothes / no home)
Upper class
Poor (not able to attend school)
8
What inspired David Ricardo to publish his first article?
After reading “Wealth of Nations” by Adam Smith
Had to earn money as he left home
Suddenly found his interest in political economics
Change in the gold standard system in England
9
Which of the following is NOT CORRECT about the theory of rent?
When land return equals to costs, no rent should be paid
Increase in demand raises rent for highly productive land
Increase in demand leads to the use of less productive land
Increase of population decreases average rent
10
What was Ricardo's family origin?
British
American
Greek
Portuguese
11
Which of the following is NOT a significant event during David Ricardo's lifetime?
Wars of the French revolution
Industrial revolution in England
World war II
American revolution
12
Which of the following theories is not from David Ricardo ?
Iron law of wages
Theory of distribution
Theory of comparative advantages
Adaptive Investment Approach

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