Questions

Q:

The goods which people consume more, when their price rises are called _______.

A) Essential goods B) Capital goods
C) Veblen goods D) Giffen goods
 
Answer & Explanation Answer: D) Giffen goods

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Q:

__________ of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: A) Marginal product

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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select ‘No Error’.

Trend-analysts experts specializes (1)/ in predicting what will (2)/ be in and what will be out. (3)/ No error (4)

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

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Q:

In the following question, a passage is given which describes a situation. From the given options, mark the correct inference that can be drawn from the passage. If none of the inferences follow, mark option 5, “None of these” as the answer.
The philosophy of pragmatism goes something like this. The mind is such that it deals only with ideas. It is not possible for the mind to relate to anything other than ideas. Therefore, it is not correct to think that the mind actually can ponder reality. All that the mind can ponder is its ideas about reality. (Whether or not that is the way reality actually is, is a metaphysical
issue). Therefore, whether or not something is true is not a matter of how closely it corresponds to the absolute truth, but of how consistent it is with our experience.

A) Our experiences define our concept of reality. B) Reality is a metaphysical issue.
C) Pragmatism and reality are two sides of the same coin. D) Our experiences enable us to determine the truth.
 
Answer & Explanation Answer: A) Our experiences define our concept of reality.

Explanation:

The passage states that reality is not an absolute truth, but a result of our consistent experiences. This makes option a is a correct inference made from the passage. Option 2 is a direct statement already made in the given passage. Option 3 cannot be inferred from the passage as ‘pragmatism’ is considered as a philosophy while ‘reality’ is considered as an amalgamation of our experiences. According to the given passage our experiences enables us to determine what is the reality which may or may not be the truth. This makes option 4 incorrect.

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Q:

Ammonium nitrate, on thermal decomposition, produces :

A) NH3 and NO2 B) NH3 and NO
C) N2 and H2O D) N2O and H2O
 
Answer & Explanation Answer: D) N2O and H2O

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Q:

Biogas is produced from biomass by

A) destructive distillation B) fractional distillation
C) anaerobic fermentation D) dry distillation
 
Answer & Explanation Answer: C) anaerobic fermentation

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Q:

What is a bank rate?

A) Rate at which Central bank of a country advances loans to other banks in the country B) Rate at which banks advance loans to the customers
C) Rate at which banks lend among themselves D) Rate at which banks lend to money lenders
 
Answer & Explanation Answer: A) Rate at which Central bank of a country advances loans to other banks in the country

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Q:

If demand curve for racing cycles is D = 80200 ­ 13P and supply curve is S = 6200 + 12P, What is the equilibrium Quantity?

A) 2960 units B) 31220 units
C) 8750 units D) 41720 units
 
Answer & Explanation Answer: D) 41720 units

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