| 1 |
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
|
| 2 |
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
|
| 3 |
The minimum wage is an example of |
- A. price floor
- B. price ceiling
- C. equilibrium wage
- D. efficiency of labour
|
| 4 |
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
|
| 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 |
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
|
| 7 |
In which form the largest percentage of national income is earned |
- A. interest income
- B. proprietor's income
- C. employees' income
- D. rental income
|
| 8 |
Trade Unions in Pakistan are unable to get an increase in wage rates because of : |
- A. Minimum wage law
- B. Low labour efficiency
- C. Capital intensive projects
- D. Lack of Natural resources
|
| 9 |
Since marginal land does not yield rent therefore: |
- A. Rent is a part of piece
- B. Rent is not a part of price
- C. Rent determines price
- D. None of the three
|
| 10 |
In factor market, which statement is true |
- A. wages are determined by MP
- B. Rent is fixed by landlords
- C. interest rate is determined by Govt.
- D. profit is determined by luck
|
