Economics MCQs

Page No. 222

A Gini coefficient of one means that ?


aall the income is received by the top 20% of the income distribution


b income is distributed equally


cthe income is split equally between the top 20% and the rest of the distribution.


done family has all the income and every one else has nothing.



The Gini coefficient is ?


athe ratio of the percentage of total income received by the top 20% of families to the percentage of total income received by by the bottom 20% of families


b the most common way of representing the income distribution graphically


ca commonly used measure of the degree of inequality in an income distribution


da commonly used measure of the degree of inequity in an income distribution



The term ‘rent’ as it is used by economists. refers to ?


a the return to any factor of production that is in fixed supply


bthe profit earned by the owner of any housing unit.


cthe amount paid each year by a tenant for an apartment


dany profit earned by stockholders when they sell their stock



If labour market discrimination crowds women into a limited number of occupations so that the number of occupations available to men increases, then ?


awages of men will be higher but the marginal productivity of men will be lower than it otherwise would be


bthe wages of men will be lower but the marginal productivity of men will be higher than it otherwise would be


cboth the wages and the marginal productivity of men will be lower than they otherwise would be


dboth the wages and the marginal productivity of men will be higher than they otherwise would be



An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?


athe Rs500 weekly salary that he has forgone to search for another job


bThe Rs500 weekly salary that he has forgone and the monetary costs incurred by continuing to search


c Rs difference between the weekly salary he finally accepts and the Rs500 weekly salary that he has forgone


dRs0, since he is currently unemployed



The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?


aMPL + PX


b(MPL) (PX)


c PX/MPL


dMPL/PX


View Answer PX/MPL

In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?


atotal labour cost


bthe marginal product


cthe price of the product


d the wage rate


View Answer the marginal product

Differences in wages that result from differences in working conditions are known as ?


a occupational differentials


b search differentials


cjob differentials.


d compensating differentials


View Answer job differentials.

If the income effect is smaller than the substitution effect, higher net wages will ?


areduce the supply of labour.


bincrease the demand for labour


cincrease the supply of labour


d have no effect on the supply of labour



The substitution effect of higher wages suggests that as the wage rate increases ?


aleisure becomes less expensive and households buy more of it


b leisure becomes more expensive and households buy more of it


c leisure becomes more expensive and households buy less of it


dleisure becomes less expensive and households buy less of it.



Goto Page No.

Page 222 of 444

Alphabetical MCQs Categories

Here below You find all kind of categories of MCQs in alphabetical order.


"Comprehensive Collection of MCQs: Alphabetically Organized by Subject"

"Discover an extensive collection of multiple-choice questions (MCQs) neatly categorized by subject from A to Z. This resource is designed for anyone eager to explore various topics in a straightforward and organized manner. Whether you're a student preparing for exams, an educator seeking supplementary materials, or simply curious about different subjects, this compilation offers a convenient way to learn and assess your knowledge. With questions arranged alphabetically, navigation is effortless, allowing you to delve into subjects of interest at your own pace. Engage, learn, and expand your understanding with this accessible and comprehensive repository of MCQs!"


BolPakistan

bolpakistan.com.pk includes Job Mcqs and Pak Mcqs is the Top Largest Mcqs Forum in World, in which you can read Mcqs of All Subjects, PPSC test preparation, FPSC, NTS and PPSC PAST PAPERS, PPSC PAST MCQS. A Collection of Repeated MCQs for JOBs seekers.

Copyright © 2024, Designed & Developed by BolPakistan