MCQOPTIONS
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MCQOPTIONS
This section includes 54 Mcqs, each offering curated multiple-choice questions to sharpen your Economics Mcqs knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
An increase in the wage rate ? |
| A. | Will usually lead to more people employed |
| B. | Will decrease total earning if the demand for labour is wage elastic |
| C. | is illegal in a free market |
| D. | will cause a shift in the demand for labour |
| Answer» E. | |
| 52. |
If people are made unemployed because of a fall in aggregate demand this is known as ? |
| A. | Frictional unemployment |
| B. | Seasonal unemployment |
| C. | Cyclical unemployment |
| D. | Structural unemployment |
| Answer» C. Cyclical unemployment | |
| 53. |
A fall in demand for labour is likely to lead to ? |
| A. | A lower equilibrium wage and lower quantity of labour |
| B. | A lower equilibrium wage and higher quantity of labour |
| C. | A higher equilibrium wage and higher quantity of labour |
| D. | A higher equilibrium wage and lower quantity of labour |
| Answer» C. A higher equilibrium wage and higher quantity of labour | |
| 54. |
The Marginal Revenue Product is ? |
| A. | Upward sloping due to the law of demand |
| B. | Upward sloping due to the law of marginal utility |
| C. | Downward sloping due to the law of diminishing returns |
| D. | Downward sloping due to the law of supply |
| Answer» B. Upward sloping due to the law of marginal utility | |