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