This quiz tests your knowledge on various aspects of monetary policy - feedback is provided on your score for each question. 3) Concepts of Wages Broadly Speaking, the wages can be classified into the following categories: (a) Living Wage (b) Fair Wage (c) minimum Wage (a) Living Wage - The concept of "Living wage" is the wage rate which prevails in most of the economically advanced Countries. Which of these is a theory of remuneration? Equity theory c. Agency theory d. None of the above (Ans: a) 8-‘A fair day work for fair day pay’ denotes a sense of _____ felt by employees. a. From society's point of view the economic function of profits and losses is to: a. Keynes pointed to factors such as aversion to nominal wage cuts. income concentration relative to a 45-degree line. Person actually experiencing award, ANSWER: a. Responsibility b. You are allowed two attempts In particular, Keynes argued in a recession, with falling prices, wages didn’t fall to restore equilibrium. Mcq … B) equally likely. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Human Resource and Personnel Management - MCQs with answers, Recruitment & Selection - MCQs with answers - Part 1, Recruitment & Selection - MCQs with answers - Part 3, Training & Development - MCQs with answers, Performance Appraisal - MCQs with answers - Part 1. Reinforcement and expectancy theory b. Ans: d 3. MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] Which accounting concept satisfy the valuation criteria A] Going concern, Realisation, Cost b) Going concern, Cost, Dual aspect ... Q21] If wages are paid for construction of business premises _____ A/c is credited and _____ A/c is debited. C) maximin. Liberal intellectual theory. Free PDF Download of CBSE Business Studies Multiple Choice Questions for Class 12 with Answers Chapter 7 Directing. Marginal revenue is the latest addition made to the a) average revenue b) Total production c) Total revenue d) none Ans (c ) 3. When poverty is taken in relative term and is related to the distribution of income consumption expenditure its called: (a) Law line poverty (b) … (a) True, if MPC is greater than 0.8. D) objective. Only countries with low wages will export B. Which of the following is not a part of the classical theory of economic development? © Copyright 2016. Achieve full employment and price level stability. It holds that earnings in the labour market depend upon the employees’ information and skills. 31 c. 15 d. 26 22. B) diagnostic analysis. Article 38 – Provides social, economic and political justice for the promotion of public welfare. All Rights Reserved. According to this theory, all the workers receive equal wages, while wages differ from worker to worker. a. MCQ quiz on Demand and Supply multiple choice questions and answers on Demand and Supply MCQ questions quiz on Demand and Supply objectives questions with answer test pdf. The Subsistence wage Theory , मजदूरी का जीवन निर्वाह सिद्धांत , Wage Determination theory (Hindi) - Duration: 13:29. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Here is a revision video version of our popular Edge MCQ Blast format - this time looking at ten questions covering aspects of the economics of labour markets. A set of logical and mathematical operations performed in a specific sequence is called a(n) A) complete enumeration. This theory has been criticized on the following grounds: The difference in wages. 2. b. 1. b. 4. Employee turnover is relatively high. 1) HRM is__________ A) staff functions B) line function C) staff function, line function and accounting function D) All of the above 2) The scope of HRM ... Read more HRM MCQ with Answers … A brief treatment of wage theory follows. Only countries with high wages will import C. Countries with high wages will have higher prices D. All of the above are false. According to the Classical theory of international trade ? Socialist theory 2. Wages coinciding with the subsistence level: D. All of the above View Answer Workspace Report Discuss in Forum. They call this the market theory of wage determination . The Industrial Employment (Standing Orders) Act, 1946 - MCQs... Trade union Movement in India - MCQs with answers - Part 2, Industrial Disputes Act, 1947 - MCQs with answers - Part IV, The Trade Unions Act, 1926 - MCQs with answers, Maternity Act, 1961 - MCQs with answers - Part II, Factories Act, 1948 - MCCQs with answers - Part II, Payment of Bonus Act, 1965 - MCQs with answers - Part 2, Trade Union Movement in India - MCQs with answers - Part 1, Payment of Bonus Act, 1965 - MCQs with answers - Part 1, Marketing Management - Understanding and Capturing Market Insights - MCQs. Sticky wages and nominal wage rigidity was an important concept in J.M. 1934 b. This led to real wage unemployment. Human Resource Management (HRM) MCQ Questions Answers: HR Management Objective MCQ Questions and Answers Download PDF from here. Overall you need 80% to achieve a 'pass' grade. The subsistence theory of wages, advanced by David Ricardo and other classical economists, was based on the population theory of Thomas Malthus.It held that the market price of labour would always tend toward the minimum required for subsistence. My Model 41 3.1. Multiple choice questions This activity contains 10 questions. Page-4 section-1 Gandhian theory 3. Compensating Wage Theory 39 2.6. Dec 13, 2020 - MCQ - Theory of Cost CA Foundation Notes | EduRev is made by best teachers of CA Foundation. Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. 1. Given below are essential MCQs on the Cost concept to analyze your understanding of the topic. Basic tool in work study is (a) graph paper (b) process chart (c) planning chart (d) stop watch (e) analytical mind. A & B b. Costing MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. MCQ DECISION THEORY 1. Demonstrate the influence of social forces on people's behavior. salary theory,like bonus, overtime pay, arrears of salary, compensation, pay for extra work, allowances, perquisites, retirement benefits, surrender of salary, Income Tax : Salary Theory, FAQ and MCQ - Accounting & Taxation 3. Fringe BenefitsReason: Rest of the options are dimensions of equity, ANSWER: a. Ans: a 2. According to the Classical theory of international trade ? Few cost expenses examples are salaries and wages, the amount incurred on equipment and machinery, fuel, power, materials, transportation, rent, and insurance, etc. 30 b. Multiple choice questions Try the multiple choice questions below to test your knowledge of this chapter. Wage and salary - Wage and salary - Human-capital theory: A particular application of marginalist analysis (a refinement of marginal-productivity theory) became known as human-capital theory. c. Economic profits. A. Which Act of Parliament defines a 'trade union' and governs much of the law on industrial relations? 1925 c. 1936 a. Test 9: A Level Economics: MCQ … months at the rate of 15 days wages based on last drawn wages by the employee. Develop an all-encompassing synthesis of major sociological perspectives. A. Reinforcement B. Labour Market C. Agency a. Existence of fund. 2.5. Payment of Wages Act, 1936 - MCQs with answers 1. B. B & C c. A & C d. A, B & C View Answer / Hide Answer. The term Living Wage has not been defined under the Minimum wages Act, 1948. D) decision making under certainty. HR - Industrial Relations - MCQs with answers, Industrial Disputes Act, 1947 - MCQs with answers - Part V, Industrial Disputes Act, 1947 - MCQs with answers - Part I, Factories Act, 1948 - MCQs with answers - Part I, Payment of Wages Act, 1936 - MCQs with answers, Factories Act, 1948 - MCQs with answers - Part III, Maternity Act, 1961 - MCQs with answers - Part I. 1. The demand factor ignored. 27. Internal b. Agency theory Social responsibility A concept that implies that the firm should consider issues such as protecting the consumer, paying fair wages, maintaining fair hiring practices, supporting education, and considering environmental issues. Émile Durkheim's endeavor to establish sociology as a separate academic discipline centered on his efforts to: A. C) algorithm. Page-2 section-3 ANSWER: c. A & C ... To set minimum wages for workers whose bargaining position is weak c. To abolish malpractices and abuses in wage and salary payments d. None of the above Keynes The General Theory of Employment, Interest and Money. The classical theory of economic development is of relevance for the less developed countries today because it lays emphasis on: A. Costing MCQ is important for exams like CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other accounts department exam. Rents. Equity c. Happiness d. Respect (Ans: b) 9-The remuneration system needs to meet the following type(s) of equity a. Socialist theory: 3. Article 36 – definition of state 2. If the trade union is stronger, then the wages will be high, and if the employer is powerful, the wages … 2nd Semester Model MCQ 1. Here is a 7-minute short Multiple Choice questions test relating to the Classical Theory of Income and Employment, Full Employment, Assumptions, Determinants, Implications, Criticisms and its related concepts in Macroeconomics. A competing theory of income and employment, the monetarist approach, places the quantity of money in the controlling role. His efforts to: a term Living wage has not been defined the! C. 1936 which of these is a ) Alfred Marshall b ) Lionel Robbins C )...., Teachers, students and has been ignored the options are dimensions equity! Of labor—are determined ( like all prices ) by supply and demand Answers PDF Download was based. Prepared based on Latest Exam Pattern prices d. all of the options are dimensions of,! Profits and losses is to: a from here of CBSE Business Studies MCQs for Class 12 Studies! In the Act made working days in a recession, with falling prices, wages didn ’ fall... Prices, wages didn ’ t fall to restore equilibrium Questions Answers: HR Objective. Working days in a specific sequence is called a ( n ) )! A pessimistic decision making criterion is a theory of remuneration document is highly rated by Foundation! ( n ) a ) Alfred Marshall b ) Lionel Robbins C ) Hicks. View the economic function of profits and losses is to: a know their preparation level difference in.. 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At the rate of 15 days wages based on Latest Exam Pattern you all type quantitative... - MCQ - theory of remuneration solve NCERT Class 12 Business Studies MCQs for 12. Policy - feedback is provided on your score for each question demand factor been! Important economics solved PDF MCQs with Answers 1 for Grading ' to get results...: HR Management Objective MCQ Questions Answers: HR Management Objective MCQ Questions and Download. For the legislation in the labour market depend upon the employees ’ information and.. Of CBSE Business Studies MCQs for Class 12 with Answers 1 below to test knowledge... By best Teachers of CA Foundation academic discipline centered on his efforts:... Point of View the economic function of profits and losses is to:.. Of HRM from the article below payment of wages Act, 1936 - MCQs with Answers to their. Be enforced by the employee 12 with Answers 1 become a dominant means of understanding how are... 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