Indian Economy Mcq Questions

Indian Economy Mcq Questions

1. Wages Paid in Monetary/ Nominal term is called….
(a) Money wages
(b) Real wages
(c) Daily wages
(d) Monthly wages

2. If price level or prices of goods and services increases, the real wages will be:
(a) Increasing
(b) Decreasing
(c) Constant
(d) None of these

3. What is marginal productivity of laboures?
(a) Addition made to total revenue by employing one more unit of labour
(b) Addition made to total revenue by employing one more unit of Capital
(c) Addition made to total revenue by employing one more unit of land
(d) None of these

4. According to marginal productivity theory of wages. Supply of labourers is:
(a) Variable
(b) Fixed
(c) Constant
(d) Infinite

5. A firm will get super-normal profit if…
(a) AR > AW
(b) AR = AW
(c) AR < Aw
(d) All of the above

6. According to modern theory of wages determination, demand for labourers depends on :
(a) Demand for the commodities
(b) Price of other factor of production
(c) Bath (a) and (d)
(d) None of these

7. There is a __________ relationship between supply of labour and wage rate.
(a) Direct
(b) Inverse
(c) Same
(d) Parallel

8. Supply of labour is affected by:
(a) Substitution effect
(b) Income effect
(c) Bath (a) and (d)
(d) Diminishing effect

9. Marginal productivity theory of labour is subject to :
(a) Law of diminishing returns
(b) Law of increasing returns
(c) Law of constant returns
(d) All of the above

10. If a worker is working less hours at works then his real wages will be:
(a) Moose
(b) Less
(c) Constant
(d) Moderate

ANSWERS:

1. a
2. b
3. a
4. b
5. a
6. c
7. a
8. c
9. a
10. a

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