Economics MCQs For Lectureship CSS PMS And NTS Part II

Economics MCQs For Lectureship CSS PMS And NTS Part II. Economics MCQs For Lectureship CSS PMS And NTS Part II.

Economics MCQs For Lectureship CSS PMS And NTS Part II

1 Who developed Wages-fund Theory?

John Stuart Mill

2 Under monopoly in the labor market, what will be the position of the supply curve of labor facing the firm?

Upward-sloping to the right

3 To whom economic rent can accrue?

Any of the factors of production

4 What is quasi-rent?

Excess of total receipts over the total variable cost

5 The additional earnings that a factor of production, whose supply is fixed in the short run, may get is called

Quasi-rent

6 Does savings normally give rise to the demand for loan-able funds?

No

7 The demand for money for speculative motives mainly depend on what?

Rate of interest

8 What is the another name of the Neo-classical Theory of the rate of interest?

Loanable Funds Theory

9 Classical Theory called interest as a reward for

Savings

10 According to Joseph Schumpeter, profit is the reward for what?

Innovation

    1. Muhammad Waqas August 24, 2020

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