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Economics Practice Test 5

Demand for Labor Quiz Questions and Answers PDF - 5

The Demand for Labor Quiz Questions and Answers PDF, Demand for Labor Quiz with Answers PDF Download e-Book Ch. 5 to study Economics online courses. Practice Markets For Factors of Production Trivia Questions PDF, demand for labor Test for online business management classes. The Demand for Labor Quiz App Download: Free learning app for balance of payments accounting principles, production possibility frontier with increasing costs, demand for labor test prep for online schools for business management degrees.

The Quiz: In a perfectly competitive market, firm's marginal revenue product of labor is known as; "Demand for Labor" App Download (Free) with answers: Marginal physical product of labor; Marginal propensity to consume; Value of the marginal product of labor; Marginal cost of labor; for online business management classes. Solve markets for factors of production questions and answers to improve problem solving skills to learn e-learning courses.

Demand for Labor Questions and Answers PDF Download: Quiz 5

MCQ 21:

In a perfectly competitive market, the firm's marginal revenue product of labor is known as

  1. marginal propensity to consume
  2. marginal physical product of labor
  3. value of the marginal product of labor
  4. marginal cost of labor
MCQ 22:

The process of social and economic change which is due to the reduction in industrial capacity or the activities of a country's manufacturing and heavy industry is known as

  1. deindustrialization
  2. industrialization
  3. autarky
  4. incomplete specialization
MCQ 23:

The type of transactions that refers to achieve some economic motive like earning income and profit maximization is known as

  1. foreign exchange payments
  2. balance of payments
  3. accommodating payments
  4. autonomous payments
MCQ 24:

A type of market structure in which employers compete to hire the best, and the workers compete for the best satisfying job is known as

  1. labor market
  2. capital market
  3. duo market
  4. monopsony
MCQ 25:

The loss of economic efficiency that can occur when equilibrium for a good or service is not Pareto optimal is called as

  1. dead weight loss
  2. budget deficit
  3. fiscal challenge
  4. monetary challenge

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Demand for Labor App (Android & iOS)

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BBA Economics App (Android & iOS)

BBA Economics App (iOS & Android)

Marketing Management App (Android & iOS)

Marketing Management App (Android & iOS)

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Financial Markets App (iOS & Android)