Questions

Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity D) elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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Q:

If for a perfectly competitive firm, price is Rs 7.2, output is 4500 units, average variable costs are Rs 1.2, and average total costs are Rs 4. The firm's profits are equal to

A) Rs 7200 B) Rs 9000
C) Rs 14400 D) Rs 19800
 
Answer & Explanation Answer: C) Rs 14400

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Q:

Macro economics deals with

A) the circular flow of income B) the decision making of a single economic variable like demand
C) resource allocation at firm level D) equilibrium prices and quantities
 
Answer & Explanation Answer: A) the circular flow of income

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Q:

In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

The quest for a _____ life engrosses every human being on this earth. Everyman tends to define a happy life in a _____ individualistic fashion. _____have attempted to define a happy life in various terms. Hedonists have a _____ notion that happiness lies in the _____ of physical appetites.

in various terms. Hedonists have a _____ notion

A) complex B) distinct
C) varied D) simple
 
Answer & Explanation Answer: D) simple

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Q:

In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

The quest for a _____ life engrosses every human being on this earth. Everyman tends to define a happy life in a _____ individualistic fashion. _____have attempted to define a happy life in various terms. Hedonists have a _____ notion that happiness lies in the _____ of physical appetites.

that happiness lies in the _____ of physical appetites.

A) gratification B) simplification
C) purification D) identification
 
Answer & Explanation Answer: A) gratification

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Q:

Narcolepsy is a disorder in which a person

A) has excessive daytime sleepiness B) has excess heart rate
C) has excess body pains D) All the above
 
Answer & Explanation Answer: A) has excessive daytime sleepiness

Explanation:

 

Narcolepsy is a disorder in which a person has excessive daytime sleepiness, sleep/wake disorder.

 

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Q:

Which diabetes requires insulin shots?

A) Type 2 B) Type 1
C) Both 1 & 2 D) None
 
Answer & Explanation Answer: B) Type 1

Explanation:

The purpose of using insulin is to get the best management of blood sugar readings as close to normal blood sugar readings as possible to help avoid complications from diabetes.

People with Type 1 diabetes always require insulin injections in order to control blood sugar readings because they make little or no insulin.

 

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Q:

The tendon is made up of

A) inelastic connective tissue fibres B) inelastic and elastic connective tissue fibres
C) only collagen fibres D) elastic connective tissue fibres
 
Answer & Explanation Answer: C) only collagen fibres

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