Economics Mcqs — Test 35
Page 1 of 3
Question 1
Because people’s income vary other the life cycle and because there are transitory shocks to people’s incomes the standard measures of income distribution ?
Question 2
Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus ?
Question 3
Rank utilitarianism liberalism, and libertarianism in sequence from the political philosophy that would redistribute income the greatest to the one that would redistribute income the least?
Question 4
The substitution effect of higher wages suggests that as the wage rate increases ?
Question 5
If the income effect is smaller than the substitution effect, higher net wages will ?
Question 6
Differences in wages that result from differences in working conditions are known as ?
Question 7
In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?
Question 8
The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?
Question 9
An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?
Question 10
If labour market discrimination crowds women into a limited number of occupations so that the number of occupations available to men increases, then ?