The idea that the demand for car workers stems from the demand for cars is ?

Related Mcqs:

1. If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?

   A. Product idea
   B. Product image
   C. Product concept
   D. Product features

2. The idea that the money supply should change to accommodate changes in aggregate demand is associated with the idea of ?

   A. Margaret Thatcher
   B. Ronald Reagan
   C. Milton Friedman
   D. John Maynard Keynes

3. If a large car importer in the Pakistan wants to import many cars, then the exchange value of the Pak rupees will tend to ?

   A. fluctuate more than it would do otherwise
   B. appreciate
   C. depreciate
   D. not be affected

4. Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?

   A. Divided Labor
   B. Closed shop
   C. Division of Labor
   D. Open shop

5. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

   A. 160; 270
   B. 10; 30
   C. 10; 3.33
   D. 30; 10

6. Which of the following is not true with regard to workers who have a high value of marginal product? These workers ?

   A. have skills that are in relatively scarce supply
   B. produce output for which there is great demand
   C. usually have little capital with which to work
   D. are usually highly paid

7. Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?

   A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
   B. increase in the number of unskilled workers available due to immigration into the UK.
   C. decrease in the demand for unskilled workers are more poorly educated
   D. increase in the number of unskilled workers available because workers are more poorly educated

8. Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?

   A. people are rational maximizers
   B. People are reluctant to change their minds
   C. People are inconsistent over time
   D. People care about fairness

9. If a consumer describes a car as being the most economical car on the market than this descriptor is a?

   A. rule
   B. attitude
   C. belief
   D. cute

10. Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?

    A. hidden actions
    B. adverse selection
    C. moral hazard
    D. adverse selection