| 1 |
Every factor of production gets reward equal to |
- A. value of average product
- B. value of marginal product
- C. value of total product
- D. total revenue
|
| 2 |
The minimum wage is an example of |
- A. price floor
- B. price ceiling
- C. equilibrium wage
- D. efficiency of labour
|
| 3 |
One of the cause of low wage rate in Pakistan is: |
- A. Population explosion
- B. Labour policy
- C. Lack of monility of labour
- D. Lack of natural resources
|
| 4 |
Marginal land or no rent land is the land which: |
- A. Covers the cost of productions only
- B. Determines rent of the superiorlands
- C. Both a & b
- D. None of the three
|
| 5 |
Quasi rent can be obtained if: |
- A. Supply of factor other than land, is temporarily fixed
- B. There is difference in the fertility of land
- C. The government legislate on it
- D. Trade unions protest for it
|
| 6 |
Long-run supply curve of labour is. |
- A. Negatively stoped
- B. Positively sloped
- C. Parallel to the horizontal axis
- D. Parallel to vertical axis
|
| 7 |
The theory of optimum population was presentd by: |
- A. Cannon
- B. Hicks
- C. Keynes
- D. Malthus
|
| 8 |
Under perfect competition, demand for a factor is its |
- A. MRP curve
- B. ARP curve
- C. TRP curve
- D. TR - TC
|
| 9 |
He cannot be unemployed |
- A. policeman
- B. beggar
- C. mikman
- D. bank officer
|
| 10 |
When labourers do not get jobs according to their qualification it will be : |
- A. Unemployment
- B. Under employment
- C. Disguised unemployment
- D. None of the three
|
