Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs	B) price = average profit
C) price = marginal costs = minimum average total costs	D) price = minimum average variable costs

Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

Explanation:

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

The law of demand states that

A) if the price of a good increases, the demand for that good decreases.	B) if the price of a good increases, the the demand for that good increases.
C) if the price of a good increases, the quantity demanded of that good decreases.	D) if the price of a good increases, the quantity demanded of that good increases.

Answer & Explanation Answer: C) if the price of a good increases, the quantity demanded of that good decreases.

Explanation:

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Q:

The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency.

A) Artificial	B) Nominal
C) Fixed	D) Real

Answer & Explanation Answer: B) Nominal

Explanation:

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Q:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic	B) indifferent
C) market demand	D) diminishing

Answer & Explanation Answer: C) market demand

Explanation:

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Q:

The consumption schedule relates:

A) disposable income to domestic income.	B) consumption to the level of disposable income.
C) consumption to saving.	D) saving to the level of disposable income.

Answer & Explanation Answer: B) consumption to the level of disposable income.

Explanation:

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Filed Under: Indian Economy
Exam Prep: Bank Exams , CAT

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Q:

Read each sentence to find out whether there is any error in any underlined part and indicate your response in the Answer Sheet against the corresponding letter i.e., (a) or (b) or (c). If you find no error, your response should be indicated as (d).

A) It	B) was raining
C) cats and dogs.	D) No error

Answer & Explanation Answer: D) No error

Explanation:

The given sentence is grammatically correct and there is no error.

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Filed Under: English
Exam Prep: Bank Exams

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Q:

Look at the underlined part of each sentence. Below each sentence are given three possible substitutions for the underlined part. If one of them (a), (b) or (c) is better than the underlined part, indicate your response on the Answer Sheet against the corresponding letter. If none of the substitutions imporves the sentence, indicate (d) as your response on the Answer Sheet.

Go north-east across the mountains till you will reach an island.

A) reached	B) reach
C) have reached	D) No improvement

Answer & Explanation Answer: B) reach

Explanation:

The use of will is redundant. The main verb is ‘Go’, till you reach is used to denote time. Further, the event will be completed in future but both other options are in past tense.

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Filed Under: English
Exam Prep: Bank Exams

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Q:

Which of the following is a bisexual flower?

A) Cucumber	B) Mustard
C) Watermelon	D) Papaya

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