| 1 |
One of the following NOT a assumption of the marginal productivity theory |
- A. units of factor are homogeneous
- B. mobility of factor
- C. low price of factor
- D. perfect competition
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| 2 |
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
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| 3 |
The theory of optimum population was presentd by: |
- A. Cannon
- B. Hicks
- C. Keynes
- D. Malthus
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| 4 |
Sometimes the supply curve of labour bends |
- A. downward
- B. upward
- C. backward
- D. firstly upward and then downward
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| 5 |
The supply of labour is based on the trade off between leisure and |
- A. wealth
- B. work
- C. wages
- D. price of product
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| 6 |
Who is unemployed |
- A. housewife
- B. college student
- C. a peer who lives on gifts from mureeds
- D. a freshly graduated engineer who is searching for a job
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| 7 |
In which form the largest percentage of national income is earned |
- A. interest income
- B. proprietor's income
- C. employees' income
- D. rental income
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| 8 |
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
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| 9 |
With an increase in the supply of labour wage rate will: |
- A. Fall
- B. Increase
- C. Remain constant
- D. None of the three
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| 10 |
In factor market, which statement is true |
- A. wages are determined by MP
- B. Rent is fixed by landlords
- C. interest rate is determined by Govt.
- D. profit is determined by luck
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