Which of the following statements are true/false?<br>1. Demands for goods is directly proportional to the labour market.<br>2. Marginal productivity is the addition made to the total production by subtracting one worker from the existing labour force.<br>3. Demand for labour is dependent on the elasticity of demand for product produced by the labour.<br>4. At higher wages, the demand for labour will be higher.

When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.

A

Both 1 and 2

B

Only 3

C

Only 1

D

Only 2

Which of the following statements are true/ false?
1. With the decrease in wages, the opportunity cost of leisure decreases.
2. An income effect is associated with lower wages.
3. The market demand curve for a particular type of labour is the horizontal summation of the marginal revenue product of labour curves of every firm in the market for that type of labour.
4. The market supply of labour is the number of workers of a particular type and skill level who are willing to supply their labour to firm at different wages.

A

1, 3, 4 are true and 2 is false

B

1, 3 are true and 2, 4 are false

C

2, 4 are true and 1, 3 are false

D

3, 4 are true and 2, 1 are false

Which of the following statements are true/false?
1. Every worker who has worked fora period of 240 days or more in a factory during a calendar year shall be allowed during the subsequent calendar year, leave with wages.
2. A worker who has been allowed leave for not less than four days, in the case of an adult, and five days, in the case of a child shall, before his leave begins, be paid the wages due for the period of the leave allowed.
3. If a worker works in a factory works for more than nine hours in any day or for more than 40 hours in any week, he shall, in respect of overtime work, be entitled to wagesat the rate oftwicehis ordinary rate of wages.4. The periods of work of an adult worker in a factory shall be so arranged that inclusive of his intervals for rest, they shall not spread over more than eleven and a half hours in any day.

A

1, 4 are true and 2, 3 are false

B

1, 2 are true and 3, 4 are false

C

2, 4 are true and 1, 3 are false

D

3, 4 are true and 2, 1 are false

Statement I The least-cost or optimal input combination of labour capital requires that the marginal revenue productivity ratio of the two inputs should be equal to their price ration.
Statement II In a hypothetical production function of the following from Q = L³ + 15L² + 10
Where Q = Quantity of the product and L = No. of variable input (labour) the marginal physical productivity of labour is L² + 15L + 10

A

Both, statements are true

B

Both, statements are false

C

Statement I is true while Statement II is false

D

Statement I is false, while Statement II is true

If for a particular combination of labour and capital, the marginal productivity of capital is 4 units of output and the marginal rate of technical substitution is 2 units of capital per unit of labour, then the marginal productivity of labour will be

A

1/2

B

4

C

6

D

8

The short-run production function for a firm is as follows
Q = -L³ + 15L² + 10L
Where Q denotes total output in physical units and L denotes units of labour which are homogeneous, but are not perfectly divisible and change in labour does not tend to become zero.
Statement I In this production function, the marginal product of 5^th unit of labour is 85.
Statement II Similarly, in this production function, the average product of the 5^th unit of labour is 60.

A

Both the statements are true

B

Both the statements are false

C

Statement I is true, while Statement II is false

D

Statement I is false, but Statement II is true

How is the degree of emulsion polymerization related to the monomer concentration, and the rate of radical generation, Ri? , inversely proportional to Ri b) inversely proportional to Ri, directly proportional to . c) directly proportional to Ri, independent of . d) directly proportional to , independent of Ri

A

and the rate of radical generation, Ri? ] directly proportional to , inversely proportional to Ri

B

M

C

M

D

M

7 workers work in a printing press. Each gets paid Rs 450 per day. The 8th worker demands Rs 500 per day. If this worker is hired then all other workersmust be paid Rs 500. The marginal resource (labour) cost of the 8th worker is _______.

A

Rs 50

B

Rs 850

C

Rs 400

D

Rs 100

A factory employs skilled workers, unskilled workers and clerks in the proportion 8 : 5 : 1, and the wages of a skilled worker, an unskilled worker and a clerk are in the ratio 5 : 2 : 3. When 20 unskilled workers are employed, the total daily wages of all amount to Rs 318. Total wages paid to each category of workers are

A

Rs 240, Rs 60, Rs 18

B

Rs 200, Rs 90,Rs 28

C

Rs 150, Rs 108, Rs 60

D

Rs 250, Rs 50, Rs 18

Read the following.
Unions demand high wages to counter inflationary pressures on the economic conditions of the working class. Higher wages enhance the purchasing power of the workers, there by raising inflation.
Which of the following inferences are wrong?
1. Unions have the sole purpose of improving the economic conditions of workers.
2. Enhanced wages increase the purchasing power of workers.
3. Inflation and purchasing power are negatively correlated.
4. Inflation drives unions to go for demanding higher wages.

A

1 and 3

B

2 and 3

C

3 and 4

D

Only 3