Questions

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.

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Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: B) Law of variable proportions

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Q:

The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?

A) Macroeconomics B) Econometrics
C) Microeconomics D) Heterodox Economics
 
Answer & Explanation Answer: C) Microeconomics

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: A) increase; increase

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Q:

____ forms a common passage for both urine and sperms in human males.

A) Oviduct B) Ureter
C) Urethra D) Vas deferens
 
Answer & Explanation Answer: C) Urethra

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Filed Under: Biology
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Q:

Which of the following is a bisexual flower?

A) Cucumber B) Mustard
C) Watermelon D) Papaya
 
Answer & Explanation Answer: B) Mustard

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Filed Under: Biology
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Q:

In August 2017, RBI announced to transfer approximately how much amount for the Financial Year 2016-17 as a dividend to the Government?

A) Rs 30,659 crore B) Rs 50,650 crore
C) Rs 60,659 crore D) Rs 70,659 crore
 
Answer & Explanation Answer: A) Rs 30,659 crore

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