Q:

In perfect competition a firm maximizes profit by _____.

A) setting price such that price is equal to or greater than its marginal costs	B) setting output such that price equals average total costs
C) setting output such that price equals marginal costs	D) setting price so that it is greater than marginal cost

Answer & Explanation Answer: C) setting output such that price equals marginal costs

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Q:

The APC can be defined as the fraction of a:

A) change in income that is not spent.	B) change in income that is spent.
C) specific level of total income that is not consumed.	D) specific level of total income that is consumed.

Answer & Explanation Answer: D) specific level of total income that is consumed.

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Q:

What does 'GIFT' stand for?

A) Gujarat Institute of Fashion Technology	B) Government of India Foreign Trade
C) Gapping Income Free Of Tax	D) Gujarat International Financial Tech

Answer & Explanation Answer: D) Gujarat International Financial Tech

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Q:

What was the real name of Swami Vivekananda?

A) Surendranath Bose	B) Narendranath Dutt
C) Vidyadhar Roy	D) Shyamal Bose

Answer & Explanation Answer: B) Narendranath Dutt

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Q:

What are gilt-edged securities?

A) Securities issued by the multinational companies.	B) Securities issued by the Government
C) Securities issued by the private sector	D) Securities issued by the joint venture companies

Answer & Explanation Answer: B) Securities issued by the Government

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Q:

China has successfully launched two Beidou-3 satellites on board of which carrier rocket?

A) Kuaizhou	B) Chang–4
C) Simorgh	D) Long March–3B

Answer & Explanation Answer: D) Long March–3B

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Q:

At the time of emergency in 1975, who was serving as the President of India?

A) Morarji Desai	B) Fakhruddin Ali Ahmed
C) V P Singh	D) Indira Gandhi

Answer & Explanation Answer: B) Fakhruddin Ali Ahmed

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Q:

Which of the following scientists is also known as the Father of Biology?

A) Herbert Spencer	B) Aristotle
C) Lamarck	D) Darwin

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