Q.11)-Production function expresses-
- Technological relationship between physical inputs and output
- Financial relat ionship between physical inputs and output
- Relationship between finance and technology
- Relationship between finance and technology
Q.12)-"Interest is a reward for parting with liquidity" is according to-
- Keynes
- Marshall
- Haberler
- Ohlin
Q.13)-Labour Intensive Technique would get chosen in a-
- Labour Surplus Economy
- Capital surplus
- Developed Economy
- Developing Economy
Q.14)-The value of a commodity expressed in terms of money is known as-
- Price
- Utility
- Value
- Wealth
Q.15)-Division of labour is limited by-
- The number of workers
- Hours of work
- Extent of the market
- Working Space
Q.16)-It is prudent to determine the size of the output when the industry is operating in the stage of-
- Increasing returns
- Constant returns
- Diminishing returns
- Negative returns
Q.17)-Exploitation of labour is said to exist when-
- Wages = Marginal Revenue
- Wages < Marinal Revenue Product
- Wage > Marinal Revenue Product
- Marginal Revenue Product = 0
Q.18)-Cost of production of the producer is given by-
- Sum of wages paid to labourers
- Sum of wages and interest paid on capital
- Sum of wages, interest rent and supernormal profit
- Sum of wages, interest, rent and normal profit
Q.19)-Wage fund theory was pro-pounded by-
- J.B. Say
- J.S. Mill
- J.R. Hicks
- J.M. Keyness
Q.20)-Plant and machinery are-
- Producer's goods
- Consumer's goods
- Distributor's goods
- Free goods