Industrial and Labor Economics SCDL Paper - 1

This solved paper of Industrial and Labor Economics of SCDL Pune has been contributed Aditi Relkar

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   Please find attachment regarding Question paper and assignment paper of Industrial and Labour Economics. Hope this will help to other members as there is no sample question paper on this subject.

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Note: Please tally the answers and verify them from SCDL textbooks as all answers might not be correct.     

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  Industrial and Labor Economic

1>    when social security measures in term of insurance, compensation benefit are provided for worker then it improve worker _________

• morale and productivity

• belongingness

• efficiency

• motivation   

2>    Factors like size and composition of population, wages, mobility, condition of work determines _______

• demand
• supply of labor
• environment
• behavior

3>Wages are of utmost important to the worker because his life and his standard of living depend on it.

a> True             B> False

4>       Wages can be paid in cash or kind.

a> True        b> false

5>    Following are the industries focused on the second five year plan period

·         Heavy chemical including nitrogenous fertilizers, heavy engineering machines building industry.

·         Aluminum, cement, pulp, dyestuff.

·         Rehabitation of agriculture workers.

6>    _______ do not give them the skill and knowledge that job demand, then they remain unemployable and this results unemployment.

·         Education and training.

·         Opportunity

·         Mobility

·         Promotion.

7>    The longer the time period for adjustment _______ it is to substitute labor for machines.

·         easier

·         longer

·         difficult

·         Impossible.

8>    Illegal strikes lead to termination of services.

                           a> True                 b> False

9>    What are the considered determinations of industrial location?

·         Govt policies

·         Tax treatment

·         Financial incentives

·         Sources of raw material

10>                        Weber identifies 2 types of products

·         wt gaining

·         wt losing

·         wt of localized material

·         wt of finalized product

11>                        line of total transfer costs is______

·         isodapane

·         isotim

·         material index

·         isotropic

12>                        When leisure has high opportunity cost, work is substituted for leisure, called as_____

• hawthrorne effect

a>    substitution effect

b>    cause and defect effect

c>    leisure effect

13>                        Modern theory of wages envisage that demand and supply determines ___

• wages

• leaves

• production

• salary

14>                        _________ established by Central Govt as a quasi judicial body under section 3 of sick industrial comp act 1985

                           Ans: BIFR

15>                        Rangarajan committee 1993 suggested 4 modes of investment with trade sale-

Ans: sale of assets, strategic sale, offer of share.

16>                        If cost of education is too high then skilled labor easily available.

Ans: False.

17>                        As labor can not be treated as commodity, there are many___ factors influencing market.

Ans: Social-psychological.

18>                        Wages are defined differently under separate labor_______

               Ans: legislation.

19>                        The reduction in the rate of interest to encourage more borrowing can not be the remedy always becoz the interest rate can not be reduce beyond a certain point.

Ans: true.

20>                        ______ Measures are meant for those financially weak sections of the labor who can not afford social insurance.

Ans: social assistance.

        

21>                        objective of industrial policy resolution 1956-

ans: a) to expand public sectors;

       b) to develop heavy and machine industries;

       c) to curtail the concentration of economic power in few hands.

22>                        Capital market is divided as

Ans: Primary market and secondary market.

23>                        short term financing also called as

                           and: working capital finance.

24>                        J.B. Say propounded theory known as

Ans: say’s law of market.

25>                        Industrial disputes affect growth of industry.

Ans: true.

26>                        When labor expenses are high proportional to total cost, labor demand can be more elastic than an industry & is known as______

Ans: Capital intensive.

27>                        Match the following

Ans:

a)      Wage rate: there is direct relationship between wage rate and supply of labor.

b)      Education related skill: work of laborer may be manual or skilled.

c)      Cost of education: if training & education are very expensive, supply of unskilled labor will be more.

d)     Marginal productivity of labor: firm’s desire to maximize profit.

28>                        match the foll ans:

a)      GDP: gross domestic product

b)      Aggregate demand: total demand from all household.

c)      Real wages: purchasing power of labor.

d)     Nominal wages: wages in monetary form.

29>

a)      Perfectly Inelastic: when there is no change in demand for labor no matter whatever is the change in wage rate.

b)      Relatively inelastic: when large % change in wage rate will bring about lesser % change in demand of labor.

c)      Relatively elastic:  when small % change in wage brings about relatively large % change in demand for labor.

d)     Unitary elastic: % change in wage rate will bring about same % change in demand for labor.

30>

a)      Halsay premium plan: for every work that is done, there is std operating procedure where the time set for a specific job is specified.

b)      Rowan premium plan: minimum wages on the basis of time is offered.

c)      Incentive Bonus: nothing but what ever extra a worker receives in the form earnings above regular earnings.

d)     Task wage system: workers are paid task wages which are fixed per task.