Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.
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is a measure of the proportional of the existing capital stock used for current production.
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Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.

Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Description : Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Last Answer : (4) The labour demand curve shifts to the right Explanation: As labour productivity increases, the production function shifts up and simultaneously the labor demand curve shifts out and right. At ... , the production function shifts up and simultaneously the labor demand curve shifts out and right.

Which of the following occurs when labour productivity rises ? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Description : Which of the following occurs when labour productivity rises ? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Last Answer : The labour demand curve shifts to the right

Match List-I (Type of Unemployment) with List-II (Characteristics) and select the correct answer using the codes given below: L ist-I L ist -I I (Type of (Char acter ist ics) Unem ployment ) A. Seasonal I. Occurs during boom or recession in the economy B. Frictional II. An absence of demand for a certain type of workers C. Disguised III. Occurs when moving from one job to another D. Structural IV. Actual contribution by the additional labour is nil E. Cyclical V. Job opportunities during certain months in the year

Description : Match List-I (Type of Unemployment) with List-II (Characteristics) and select the correct answer using the codes given below: L ist-I L ist -I I (Type of (Char acter ist ics) Unem ... contribution by the additional labour is nil E. Cyclical V. Job opportunities during certain months in the year

Last Answer : (1) A-V, B-III, C-IV, D-II, E-I

9. Last week, Martha spent one day cleaning a house. For this, she was paid $50. The rest of the week, she spent looking for a job. Martha would be classified as a. employed b. unemployed c. not in the labor force

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Last Answer : a. employed

Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

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Last Answer : (2) organizes the process of production Explanation: In economics, factors of production are the inputs to the production process. Factors of production' may also refer specifically to the 'primary factors', ... the other factors of production, land, labor, and capital, in order to make a profit.

Enterpreneurial ability is a special kind of labour that (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Description : Enterpreneurial ability is a special kind of labour that (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Last Answer : organizes the process of production

In pursuing a CPA firm's quality control objectives, a CPA firm may maintain records indicating which partners or employees of the CPA firm were previously employed by the CPA firm's clients. Which quality control element would this be most likely to satisfy? a. Monitoring. b. Human resources. c. Ethical requirements. d. Engagement performance

Description : In pursuing a CPA firm's quality control objectives, a CPA firm may maintain records indicating which partners or employees of the CPA firm were previously employed by the CPA firm's clients. Which ... to satisfy? a. Monitoring. b. Human resources. c. Ethical requirements. d. Engagement performance

Last Answer : Ethical requirements.

Labour cost consists of (a) All people officially employed or unemployed (b) All people over the age of 18 but less than 58 years of age (c) All youth having passed matriculate examination ; (d) All the three

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Last Answer : (a) All people officially employed or unemployed

Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

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Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Last Answer : location of capital works

The internal rate of return - (1) must be less than the interest rate if the firm is to in-vest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm's in-vestment.

Description : The internal rate of return - (1) must be less than the interest rate if the firm is to in-vest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm's in-vestment.

Last Answer : (3) falls as the annual yield of an investment rises. Explanation: The internal rate of return on an investment or project is the "annualized effective compounded re-turn rate" or discount rate ... the investment equals the net present value of the benefits (positive cash flows) of the investment.

The internal rate of return (1) must be less than the interest rate if the firm is to invest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm’s investment.

Description : The internal rate of return (1) must be less than the interest rate if the firm is to invest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm’s investment. 

Last Answer : falls as the annual yield of an investment rises.

The supply of labour in the economy depends on - (1) Population (2) National income (3) Per capita income (4) Natural resources

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Last Answer : (1) Population Explanation: The supply curve for labor depends on variables such as population, wage rates, etc. in developing countries, the vast population base explains the relatively lower wage ... accessibility to labour supply. This is just the opposite in the case of developed countries.

The supply of labour in the economy depends on (1) Population (2) National income (3) Per capita income (4) Natural resources

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Last Answer : Population

Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).

Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market. 

Last Answer :  Economic rent is the difference between the market wage and the reservation wage.

Total labour force in Pakistan is estimate at 63.03 million in the year 2014-15 out of which _____ million were unemployed A. 4.2 B. 3.93 C. 5.7 D. None of these

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Last Answer : ANSWER: B

Total labour force in Pakistan is estimate at 63.03 million in the year 2014-15 out of which _____ million were unemployed A. 4.2 13 B. 3.93 C. 5.7 D. None of these

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Last Answer : ANSWER: B

Need of farm mechanization is to... a) for timely operations of agriculture activities b) to increase the production and productivity of food grains. c) efficient utilisation of inputs, water and other natural resources. d) all of the above

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Last Answer : all of the above

Labour Intensive Technique would get chosen in a - (1) Labour Surplus Economy (2) Capital Surplus Economy (3) Developed Economy (4) Developing Economy

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If capital is available in large proportion and labour is less then the economy is known as (a) Labour intensive country (b) Capital intensive country. © Both (a) and (b). (d) None of the above.

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Last Answer : (b) Capital intensive country.

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If the total production in an economy is produced by “a few big firms” than this market is known as (a) Monopolistic Competition (b) Duopoly (c) Oligopoly (d) Discriminating Monopoly

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Last Answer : (b) Duopoly

If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly

Description : If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly

Last Answer : Oligopoly

One of the main factors that led to rapid expansion of Indian exports is - (1) Imposition of import duties (2) Liberalization of the economy (3) Recession in other countries (4) Diversification of exports

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Last Answer : Diversification of exports 

Capital : Output Ratio of a measures - (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output

Description : Capital : Output Ratio of a measures - (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output

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Capital output ratio of a commodity measures (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output

Description : Capital output ratio of a commodity measures (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output

Last Answer : the amount of capital invested per unit of output

The self-employed in a developing country who are engaged in small scale labour intensive work belong to the - (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

Description : The self-employed in a developing country who are engaged in small scale labour intensive work belong to the - (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

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The self-employed in a developing country who are engaged in small scale labour intensive work belong to the (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

Description : The self-employed in a developing country who are engaged in small scale labour intensive work belong to the (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

Last Answer : Primary sector

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Description : What happens when there is a demand deficiency in an economy? (1) Poverty (2) Stagnation (3) Recession (4) Inflation

Last Answer : (2) Stagnation Explanation: Deficient demand refers to the situation when aggregate demand for goods and services falls short of aggregate supply of output which is produced by fully employing ... which both capital and labor are redundant relative to the opportunities for employing them profitably.

What happens when there is a demand deficiency in an economy? (1) Poverty (2) Stagnation (3) Recession (4) Inflation

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Last Answer : Stagnation

Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

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Last Answer : (2) Capital Explanation: Some economists have classified factors into two categories, land and labour (or nature and man) on the ground that they are the only original or primary factors. ... . However, other economists include all man-made instruments for production in the category of Capital.

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Description : The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Last Answer : (1) land, labour, capital, organisation, Explanation: Factors of Production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to ... -made resources), and (iv) Enterprise (which brings all the previous resources together for production).

Which of the following is active factor of production ? a. Labour b. Capital c. Machinery d. All of these

Description : Which of the following is active factor of production ? a. Labour b. Capital c. Machinery d. All of these

Last Answer : d. All of these

Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land(d) Entrepreneur

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Last Answer : (d) Entrepreneur

In the long run, which of the following factors of production is fixed? (a) capital (b) building © labour (d) none of the above

Description : In the long run, which of the following factors of production is fixed? (a) capital (b) building © labour (d) none of the above

Last Answer : (d) none of the above

According to Absolute and Comparative Advantage theories----- is the only factor of production. (a) land (b) labour © capital (d) organization.

Description : According to Absolute and Comparative Advantage theories----- is the only factor of production. (a) land (b) labour © capital (d) organization.

Last Answer : (b) labour

Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

Description : Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

Last Answer : capital

The four factors of production are (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Description : The four factors of production are (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Last Answer :  land, labour, capital, organisation,

When the price is less than the average variable cost, the firm should …………. (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench workers and pay them compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors

Description : When the price is less than the average variable cost, the firm should . (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench ... compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors

Last Answer :  (b) Shut down its operation for the time being

Assertion (A): Mohan is a shopkeeper who pays his taxes on time. He has employed two workers Raghu and Rakesh in his shop. He pays them well but none of the workers get paid leaves in a year. Reason (R): Rakesh and Raghu are employed in an unorganized sector. (a) Both A & R are true and R is the correct explanation of A (b) Both A & R are true but R is not the correct explanation of A. (c) A is true but R is false. (d) Both A & R are false.

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Last Answer : (a) Both A & R are true and R is the correct explanation of A

1. Disguisedly unemployed labour has ___________ marginal productivity.

Description : 1. Disguisedly unemployed labour has ___________ marginal productivity.

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Which of the following brings out the 'Consumer Price Index Number' for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Description : Which of the following brings out the 'Consumer Price Index Number' for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Last Answer : (2) The Labour Bureau Explanation: The Consumer Price Index Numbers for Industrial Workers CPI (IW) are being compiled, maintained and disseminated by the Labour Bureau since its inception in October, 1946. ... of the economy. These index numbers are compiled by the Bureau on month to month basis.

Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : (3) extent of the market Explanation: Division of labour is a process whereby the production process is broken clown into a sequence of stages and workers are assigned to particular stages. As it is the power ... be limited by the extent of that power, or, other words, by the extent of the market.

Which of the following brings out the ‘Consumer Price Index Number’ for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Description : Which of the following brings out the ‘Consumer Price Index Number’ for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Last Answer : The Labour Bureau

Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : extent of the market

In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are (a) Are the resources fully utilized or not ; (b) How efficient is the production and distribution system; (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three

Description : In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are (a) Are the resources fully utilized or not ; (b) How efficient is the production and ... (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three

Last Answer : (d) All the three