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