Factor Market [AP (Advanced Placement) Microeconomics]: Questions 1 - 5 of 16

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Question 1

Appeared in Year: 2013 (NET)

Question

MCQ▾

In whose growth model, entrepreneur՚s significance is pivotal? (December)

Choices

Choice (5)Response

a.

Harrod

b.

Domar

c.

Keynes

d.

Schumpeter

e.

Question does not provide sufficient data or is vague

Question 2

Appeared in Year: 2015 (NET)

Question

MCQ▾

Segmented labour markets imply: Which of the below is incorrect? (December)

Choices

Choice (5)Response

a.

MP theory of wage fails to determine market outcomes

b.

Labour paid wage less than MRP

c.

Labour Discrimination

d.

Equality of wages of different types of labour

e.

Question does not provide sufficient data or is vague

Question 3

Appeared in Year: 2015 (NET)

Question

MCQ▾

Value of the Marginal Product is: (December)

Choices

Choice (5)Response

a.

b.

c.

d.

e.

All of the above

Question 4

Appeared in Year: 2015 (NET)

Question

MCQ▾

In perfect competition, Wages is determined where:

  1. demand for labour = supply of labour
  2. MRP of labour = Marginal wage
  3. MRP of labour = ARP
  4. MRP of labour = average wage

Select the correct combination from above: (December)

Choices

Choice (5)Response

a.

(1) and (3)

b.

(1) and (4)

c.

(1) and (2)

d.

(3) and (4)

e.

All of the above

Question 5

Appeared in Year: 2017 (NET)

Question

MCQ▾

Core inflation has been described as: (November Paper-III)

Choices

Choice (5)Response

a.

Headline inflation food inflation

b.

Headline inflation fuel inflation

c.

Food inflation Fuel inflation

d.

Headline inflation (food inflation fuel inflation)

e.

None of the above

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