Match the propounders mentioned in List-I with the theories of wages mentioned in List-II. List – I…
Matching classical economists with the wage theories they propounded or championed: John Stuart Mill popularized the Wage Fund Theory (ii); Francis A. Walker propounded the…
Choose your answer
Match the propounders mentioned in List-I with the theories of wages mentioned in
List-II.
List – I
List – II a. J.S. Mill i. Marginal Productivity Theory
b. Walker
ii. Wage Fund Theory c. J.B. Clark
iii. Residual Claimant Theory
d. Ricardo
iv. The Subsistence Theory
Answer and explanation
Correct answer D
Matching classical economists with the wage theories they propounded or championed: John Stuart Mill popularized the Wage Fund Theory (ii); Francis A. Walker propounded the Residual Claimant Theory (iii); John Bates Clark developed the Marginal Productivity Theory (i); and David Ricardo formulated the Subsistence Theory (Iron Law) of Wages (iv).
Practice for these exams
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UGC NET HRM / Labour Welfare and Industrial Relations