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Q:

Which one of the following is not an assumption in the law of demand?

A) There are no changes in the taste and preferences of consumers B) Income of consumers remains constant
C) Consumers are affected by demonstration effect D) There are no changes in the price of substitute goods.
 
Answer & Explanation Answer: C) Consumers are affected by demonstration effect

Explanation:

There are certain assumptions underlying the law of demand, which are as follows:

i. Assumes that the consumer’s income remains same

ii. Assumes that the preferences of consumer remain same.

iii. Considers that the fashion does not show any changes, because if fashion changes, then people would not purchase the products that are out of fashion.

iv. Assumes that there would be no change in the age structure, size, and sex ratio of population. This is because if population size increases, then the number of buyers increases, which, in turn, affect the demand for a product directly.

v. Restricts the innovation and new varieties of products in the market, which can affect the demand for the existing product.

vi. Restricts changes in the distribution of income.

vii. Avoids any type of change fiscal policies of the government of a nation, which reduces the effect of taxation on the demand of product.

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Filed Under: Indian Economy
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Q:

As per RBI In October 2017, Gross Non-Performing Assets (GNPA) ratio for NBFCs increased to what percentage till March 2017?

 

A) 2 B) 5
C) 10 D) 20
 
Answer & Explanation Answer: B) 5

Explanation:
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Filed Under: Indian Economy
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Q:

As per the announcement by the government in August 2017, Banks importing gold and precious metals will have to pay ______ tax under the GST.

 

A) 5%   B) 10%  
C) 3%   D) 8%
 
Answer & Explanation Answer: C) 3%  

Explanation:
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Q:

What temperature does bacteria grow quickest at

A) 40°F and 140°F B) 14°C and 90°C
C) 80°F and 140°F D) None
 
Answer & Explanation Answer: A) 40°F and 140°F

Explanation:

Most bacteria will grow rapidly between 4°C and 60°C (40°F and 140°F).

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Filed Under: Biology
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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

The goal of education should be to help the student to grow physically strong, mentally brilliant, spiritually ______, culturally rich, prosperous, globally peaceful and environment-friendly.

A) enlightened B) misleading
C) dominating D) hopeful
 
Answer & Explanation Answer: A) enlightened

Explanation:
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Filed Under: English
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Q:

If the velocity of a body becomes two times its initial velocity, its kinetic energy becomes n times its initial kinetic energy. What is the value of n?

A) 4 B) 6
C) 1/2 D) 3
 
Answer & Explanation Answer: A) 4

Explanation:
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Filed Under: Physics
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Q:

Article 39A of the Indian Constitution "Equal justice and free legal aid" deals with?

A) the State Government B) the directive principles of state policy
C) the Union Government D) the fundamental rights of the Indian Citizen
 
Answer & Explanation Answer: B) the directive principles of state policy

Explanation:
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Filed Under: Indian Politics
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Q:

In the following question, a sentence has been given in Active/Passive Voice. Out of the four alternatives suggested, select the one which best expresses the same sentence in Passive/Active Voice.

 

Had work been resumed by the labourers before the manager arrived?

 

A) Have the labourers resumed work before the arrival of the manager? B) Had the labourers resumed work before the manager arrived?
C) Had they resumed the work before the manager came? D) Had the labourers not resumed work before the manager arrived?
 
Answer & Explanation Answer: B) Had the labourers resumed work before the manager arrived?

Explanation:
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Filed Under: English
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