Question # 1

Rickshaw has replaced tonga as local transport. As a result the tongs-drivers have become unemployed. Such unemployment is called

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structural

frictional

seasonal

personal

The set of skills and abilities that workers possess for production of goods and serves is

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motivation

wealth

human capital

natural talent

Assumptions of a law are called:

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Constant

Parameters

Variables

Dependent variable

y = 2^x is a.

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Log function

Linear equation

Exponential function

Increasing function

Estimate of Pakistan's population for 2013 is

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185 million

285 million

385 million

485 million

Mobility of labour

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increases efficiency of labour

decreases wages of labour

increases division of labour

a and c of above

All labour is

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homogeneous

heterogeneous

lazy

intelligent

Which is NOT an advantage of division of labour

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workers spend less time moving from job to job

workers becomes dependent on other workers

workers become more efficient at performing repeated task

machinery is more easily introduced to perform simple tasks

To reduce unemployment the govt. may

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reduce money supply

reduce mobility of labour

reduce minimum wages

increase government spending

Efficiency of labour is not affected by

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attitude of worker

attitude of employer

attitude of wife/husband

all affect

Underemployment of labour means

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a worker does not get full time job

a worker is not happy with present job

a person does not get job according to his qualification

a and c of above

Optimum population is defined by the economists as the level of population at which

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death rate equals birth rate

labour productivity is maximized

country achieves food self sufficiency

national income per head is maximesed

About labour we can say with certainty that it is

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Perishable

Hirable

Reliable

all of the above

This is NOT the result of specialization

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increased production

improvement in quality of product

increase in cost of production

increase in trade

Saqib graduated one month ago. He is still unemployed. His unemployment is

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structural

frictional

seasonal

personal

According to Malthus, population increase by

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arithmetic progression

geometric progression

systematic progression

automatic progression

Every country should have population

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minimum

constant

optimum

fast growing

The human effort applied to the production of goods is called in economics

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labour

skill

experience

services

Productivity of labour can be increased by

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raising minimum wages

reducing profits

increasing skills of workers

punishing absentee workers

Unemployment due to mechanization of agriculture is

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seasonal

structural

industrial

personal

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