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Doctors Medicines MCQs Q&A

Which of the following statements are true/false?
1. The institutional wage theory states that level of compensation is determined on empirical and quantitative basis.
2. Consumption theory was formulated on the concept that more wages will lead to more consumption.
3. Investment theory states that employee's compensation is determined by the rate of return on that employee's investment.
4. Supply and demand theory states that wages are determined based on demand and supply of labour.

Which of the following statements are true/false?
1. The institutional wage theory states that level of compensation is determined on empirical and quantitative basis.
2. Consumption theory was formulated on the concept that more wages will lead to more consumption.
3. Investment theory states that employee's compensation is determined by the rate of return on that employee's investment.
4. Supply and demand theory states that wages are determined based on demand and supply of labour. Correct Answer 1, 2, 3 and 4 are true

Related Questions

Which of the following statements are true/false?
1. A minimum rate of wages for the time spent by employees for the production of output is minimum time rate.
2. Minimum piece rate is the rate based on the quantity of the output employees have produced.
3. The guaranteed time rate is a minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis.
4. A minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis is overtime rate.
What is the total number of employees in the company? Which of the following option is sufficient alone to find the answer? A) In the company, employees like either tea or coffee or cold drink. Out of the total employees, 25% like tea and 40% like coffee. Out of remaining employees, 20% like cold drink and remaining employees don’t like any of these drinks. B) Out of total employees 18% working in the marketing departments, 35% working in IT departments. From the remaining employees 25% working in HR departments and 45% working in content departments and remaining 141 are working in other departments. C) Employees working in the company is form state X, Y and Z. 20% of employees working in the company is from state X and from remaining 60% employees is from state Z and the remaining employees is from the state Y. D) 60% of the employees in the company are married and remaining employees are unmarried. The ratio of male and female unmarried employees is 4 : 5 and ratio of married male and female employees is 3 : 4.
Which of the following statements are true/false?
1. Fair wage is above the minimum wage but below the living wage.
2. Living wage is the highest amount of wage proposed by the government.
3. Different states have fixed different minimum wages based on the skill set of the employees.
4. Fair wage works on the formula Equal Pay for Equal work.
Which of the following statements are true/ false?
1. With the decrease in wages, the opportunity cost of leisure decreases.
2. An income effect is associated with lower wages.
3. The market demand curve for a particular type of labour is the horizontal summation of the marginal revenue product of labour curves of every firm in the market for that type of labour.
4. The market supply of labour is the number of workers of a particular type and skill level who are willing to supply their labour to firm at different wages.
Which of the following statements are true/false?
1. Piece rate system is easy to calculate the wages under this method as it provides certainty of the amount of wage payment to the employee.
2. In time wage system, there is fixed wage because the wages are dependent on the units of pieces produced.
3. Time wage system is based on the fact that the workers are paid on the basis of amount of time they spend on the doing the particular job.
4. Piece rate system is based on the fact that workers are paid the wages on the basis of quantity and quality of work performed by them.
In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even if they seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement: (I) Wages are determined by minimum wage legislation in each country. (II) Increase in wage rate is the sign of growth in an economy. Conclusions: (I) Average wage rate signifies the wealth of a country. (II) Minimum wage legislation does not account wage imbalances.
In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even ifthey seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement:
(I) Wages are determined by minimum wage legislation in each country.
(II) Increase in wage rate is the sign of growth in an economy. Conclusions:
(I) Average wage rate signifies the wealth of a country.
(II) Minimum wage legislation does not account wage imbalances.
Which of the following statements is correct about Wage Boards in India?
1. A Wage Board is a tripartite body.
2. Labour and management representatives on a Wage Board can be selected from industries other than the one which is investigated.
3. Wage Boards are always statutory in nature.
4. Wage Boards work on the principle of living wage.
Which of the following statements are true/false?
1. Demands for goods is directly proportional to the labour market.
2. Marginal productivity is the addition made to the total production by subtracting one worker from the existing labour force.
3. Demand for labour is dependent on the elasticity of demand for product produced by the labour.
4. At higher wages, the demand for labour will be higher.
Ram wage is 40% more than Krishna wage and Mohan wage is 62.5% of sum of Ram & Krishna wage then find Mohan wage is what % of Ram wage.