| 1 |
The purchasing power of money alongwith the fringe benefits for a labour will detemine his/her: |
- A. Nominal wage
- B. Gross wage
- C. Real wage
- D. Net wage
|
| 2 |
A producer will employ workers up to the point where its MRP becomes |
- A. ARP
- B. current wage rate
- C. negative
- D. equal to profit
|
| 3 |
Minimum wage rate of labour is fixed by : |
- A. Government
- B. Trade unions
- C. Entrepreneurs
- D. Labourers
|
| 4 |
Under perfect competition, demand for a factor is its |
- A. MRP curve
- B. ARP curve
- C. TRP curve
- D. TR - TC
|
| 5 |
Quasi rent is a: |
- A. Short-run phenomenon
- B. Long-run phenomenon
- C. Short and long run phenoomenon
- D. None of the three
|
| 6 |
Under marginal productivity theory, reward for labour is determined by |
- A. owner
- B. government
- C. labour
- D. marginal product
|
| 7 |
The main object of trade unions is to: |
- A. Strength the bargaining position of labour
- B. Get jobs for the employed persons
- C. Get recreational facilities
- D. Get free meals
|
| 8 |
If the rate of inflation goes up, the real wags of labourers will : |
- A. Increase
- B. Decrease
- C. Remain the same
- D. Noe of the three
|
| 9 |
Why should employ units of a factor to a point where |
- A. MP is negative
- B. MP is equal to price of the factor
- C. MP is positive
- D. MP is rising
|
| 10 |
Who is unemployed |
- A. housewife
- B. college student
- C. a peer who lives on gifts from mureeds
- D. a freshly graduated engineer who is searching for a job
|
