| 1 |
The supply of labour is based on the trade off between leisure and |
- A. wealth
- B. work
- C. wages
- D. price of product
|
| 2 |
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
|
| 3 |
Increasing the minimum wage for workers will |
- A. solve the unemployment problem
- B. result in scarcity of workers
- C. cause substitution of capital for labour
- D. decreases the MP of those workers
|
| 4 |
Doctors get higher wages than clerks because |
- A. doctors are in short supply
- B. doctors have more respect in society
- C. doctors are organised in trade unions
- D. people fear doctor's displeasure
|
| 5 |
Sometimes the supply curve of labour bends |
- A. downward
- B. upward
- C. backward
- D. firstly upward and then downward
|
| 6 |
Minimum wage rate of labour is fixed by : |
- A. Government
- B. Trade unions
- C. Entrepreneurs
- D. Labourers
|
| 7 |
One of the following NOT a assumption of the marginal productivity theory |
- A. units of factor are homogeneous
- B. mobility of factor
- C. low price of factor
- D. perfect competition
|
| 8 |
The supply of land is fixed whereas its Demand is increase day by day, the rent Produced in this way is: |
- A. Differential rent
- B. Scarcity rent
- C. Quasi rent
- D. Economic rent
|
| 9 |
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
|
| 10 |
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
|
