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Economics
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Question-1
__________ is the wages paid to the worker on the basis of time.
(A)
Money wages
(B)
Time wags
(C)
Piece wages
(D)
None of these
Question-2
Backward bending supply curve occurs in _________.
(A)
Less developed countries
(B)
under developed countries
(C)
Highly industrialized countries
(D)
African countries
Question-3
The Average Physical product (APP) is _________ shaped.
(A)
U
(B)
Inverted U
(C)
L
(D)
V
Question-4
Higher wages acts as ________.
(A)
Incentive
(B)
disincentive
(C)
encouragement
(D)
none of these
Question-5
When Marginal Revenue Product (MRP) is less than wages __________.
(A)
Producer employs more labour
(B)
producer employs less labour
(C)
producer employs same number of labours
(D)
None of these
Question-6
________ is the wages paid as per number of units of goods produced.
(A)
Money wages
(B)
Nominal wages
(C)
piece wages
(D)
None of these
Question-7
_________ wages takes into account the level of inflation in the economy.
(A)
Money wages
(B)
time wages
(C)
real wages
(D)
wages in kind
Question-8
Marginal productivity theory in a labour market states that ________.
(A)
MRP>Wages
(B)
MRP
(C)
MRP=Wages
(D)
None of these
Question-9
Under perfect competition ____________ VMP coincide.
(A)
MRP
(B)
ARP
(C)
TP
(D)
None of these
Question-10
The distribution of total output among various factors for production is known as ________.
(A)
Theory of distribution
(B)
Theory of wages
(C)
Theory of rent
(D)
None of these
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Practice in Related Chapters
Micro Economic Theory
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Law of Supply and Price Elasticity of Supply
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Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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