WorksheetsMacro-Economics- Theory of Wages
Total questions: 10
Worksheet time: 3mins
Income of self employed is partly:
Wages
Dividend
Profit
Both a and c
The theory of negotiated wages is based on the
idea that wages are influenced by a labor union negotiating with management for better pay and benefits
the equilibrium wage created by supply of labor and demand of labor
concept the more skills and talents you have the higher your pay should be
principle of physical capital and resource accumulation
Subsistence Wage theory is based on minimum wages for human existence as population increases as wages increase is based on which law?
Ricardo's natural law of labour
Malthusian Law
Adam Smith wage theory
Mill Theory
Marginal Productivity Theory is based on:
Derived demand of Labour
Capability of Labour to produce
Value of Marginal revenue product
All of these
Supply Curve of Labour is backward bending or sloping curve due to:
Demand and Supply of Labour
Bargaining power
Income and Substitution effect
Wage differentials
Real wages can be expressed as:
Money Wages/ Index of Price Level
Index of Price level/ Money Wage
Price Level/ Money Wage
Money Wage/ Price level
Wages in modern times, just like the other factors of production are governed by
government regulation
labor laws
supply and demand
glass ceiling
Which theory is called Iron Law of Wages?
Subsistence Theory
Wage Fund Theory
Marginal Productivity Theory
Modern Theory of Wages
The wage rate shall be ...........................the value of product.
Equal
Less
More
Equal or less
According to Subsistence theory, Wages will ........................ with increase in population.
increase
decrease
equal
none
