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Question-1
__________ part of MRP curve is the demand curve of the factor of production.
(A)
Positively sloped
(B)
negatively sloped
(C)
Horizontal
(D)
vertical
Question-2
The marginal physical Product (MPP) is __________ shaped.
(A)
U
(B)
K
(C)
Inverted U
(D)
V
Question-3
_________ is computed by dividing the total product by the number of units.
(A)
Total physical product
(B)
Average physical product
(C)
Marginal physical product
(D)
None of these
Question-4
_________ of a factor refers to the total revenue divided by the total units of the variable factor.
(A)
Average revenue productivity
(B)
Marginal revenue productivity
(C)
Total revenue productivity
(D)
None of these
Question-5
The reward for factors of production are ____________.
(A)
Rent
(B)
Wages
(C)
interest and profits
(D)
All of these
Question-6
Higher wages acts as ________.
(A)
Incentive
(B)
disincentive
(C)
encouragement
(D)
none of these
Question-7
When variable factor is applied to a given level of Fixed factor increased, the ________ increases up to a point and then declines.
(A)
APP
(B)
MPP
(C)
APP and MPP
(D)
None of these
Question-8
The national product of a nation could be explained in terms of
(A)
Personal distribution
(B)
functional distribution
(C)
1 and 2
(D)
None of these
Question-9
The demand for labour depends on __________.
(A)
Level of technology
(B)
Elasticity o demand for the product produced by labour
(C)
Substitution of labour
(D)
All of these
Question-10
Persons enter in the labour force at the age of _______.
(A)
15
(B)
16
(C)
17
(D)
18
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Plus 2 Humanities
ICSE/ISC
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Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
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Equilibrium Price: Market Price
Nature of Goods and Services Produced
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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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