| 1 |
The supply of labour is based on the trade off between leisure and |
- A. wealth
- B. work
- C. wages
- D. price of product
|
| 2 |
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
|
| 3 |
The minimum wage is an example of |
- A. price floor
- B. price ceiling
- C. equilibrium wage
- D. efficiency of labour
|
| 4 |
Minimum wage rate of labour is fixed by : |
- A. Government
- B. Trade unions
- C. Entrepreneurs
- D. Labourers
|
| 5 |
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
|
| 6 |
Fixing of minimum wage |
- A. raises demand for labour
- B. raises profits
- C. causes unemployment
- D. is welcomed by employers
|
| 7 |
With an increase in the supply of labour wage rate will: |
- A. Fall
- B. Increase
- C. Remain constant
- D. None of the three
|
| 8 |
Long-run supply curve of labour is. |
- A. Negatively stoped
- B. Positively sloped
- C. Parallel to the horizontal axis
- D. Parallel to vertical axis
|
| 9 |
The supply of land is fixed whereas its Demand is increase day by day, the rent Produced in this way is: |
- A. Differential rent
- B. Scarcity rent
- C. Quasi rent
- D. Economic rent
|
| 10 |
If marginal product of labour rises because of new technology |
- A. wages will rise
- B. wages will fall
- C. wages will be unaffected
- D. may raise or fall
|
