Economics MCQS with Answers 1st Year
The theory of optimum population was presentd by:
Malthus
Hicks
Keynes
Cannon
Doctors get higher wages than clerks because
people fear doctor’s displeasure
doctors are organised in trade unions
doctors have more respect in society
doctors are in short supply
Long-run supply curve of labour is.
Parallel to the horizontal axis
Positively sloped
Parallel to vertical axis
Negatively stoped
When labourers do not get jobs according to their qualification it will be :
Disguised unemployment
Under employment
Unemployment
None of the three
Union leaders are in better position bargain for higher wages if demand for labour is
inelastic
elastic
very large
permanent
The supply of labour is based on the trade off between leisure and
wealth
price of product
work
wages
If the rate of inflation goes up, the real wags of labourers will :
Increase
Noe of the three
Decrease
Remain the same
One of the cause of low wage rate in Pakistan is:
Lack of natural resources
Lack of monility of labour
Population explosion
Labour policy
With an increase in the supply of labour wage rate will:
None of the three
Fall
Remain constant
Increase
Standard of living of workers depends upon their
average product
real wages
nominal wages
govt. policy
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