Question # 1

He cannot be unemployed

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policeman

beggar

mikman

bank officer

The main object of trade unions is to:

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Strength the bargaining position of labour

Get jobs for the employed persons

Get recreational facilities

Get free meals

The theory of optimum population was presentd by:

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Cannon

Hicks

Keynes

Malthus

If marginal product of labour rises because of new technology

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wages will rise

wages will fall

wages will be unaffected

may raise or fall

Minimum wage rate of labour is fixed by :

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Government

Trade unions

Entrepreneurs

Labourers

Quasi rent can be obtained if:

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Supply of factor other than land, is temporarily fixed

There is difference in the fertility of land

The government legislate on it

Trade unions protest for it

In factor market, which statement is true

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wages are determined by MP

Rent is fixed by landlords

interest rate is determined by Govt.

profit is determined by luck

Since marginal land does not yield rent therefore:

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Rent is a part of piece

Rent is not a part of price

Rent determines price

None of the three

Standard of living of workers depends upon their

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nominal wages

real wages

average product

govt. policy

One of the following NOT a assumption of the marginal productivity theory

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units of factor are homogeneous

mobility of factor

low price of factor

perfect competition

Sometimes the supply curve of labour bends

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downward

upward

backward

firstly upward and then downward

In which form the largest percentage of national income is earned

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interest income

proprietor's income

employees' income

rental income

Fixing of minimum wage

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raises demand for labour

raises profits

causes unemployment

is welcomed by employers

A producer will employ workers up to the point where its MRP becomes

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ARP

current wage rate

negative

equal to profit

Increasing the minimum wage for workers will

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solve the unemployment problem

result in scarcity of workers

cause substitution of capital for labour

decreases the MP of those workers

Long-run supply curve of labour is.

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Negatively stoped

Positively sloped

Parallel to the horizontal axis

Parallel to vertical axis

The purchasing power of money alongwith the fringe benefits for a labour will detemine his/her:

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Nominal wage

Gross wage

Real wage

Net wage

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