Questions

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 demand curve facing a perfectly competitive firm is

A) downward sloping B) perfectly inelastic
C) a concave curve D) perfectly elastic
 
Answer & Explanation Answer: D) perfectly elastic

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Q:

The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____.

A) Cyclical unemployment B) Frictional unemployment
C) Seasonal unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Seasonal unemployment

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Q:

The hardest natural substance is

A) Graphite B) Diamond
C) Iron D) Copper
 
Answer & Explanation Answer: B) Diamond

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Q:

Which of the following metals does NOT react with cold or hot water?

A) Aluminium B) Potassium
C) Sodium D) Calcium
 
Answer & Explanation Answer: A) Aluminium

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Q:

In the given question, a statement divided into different segments is given. The first segment is fixed, rearrange the other segments to form a coherent statement.

The federation was keen on maintaining an/ exclusive membership profile and thus introduced (P)/ segregational policies adopted by premier organizations (Q)/ an invite- only policy for the new entrants (R)/ causing a sudden outcry against the (S)

A) PRSQ B) SRPQ
C) PQRS D) QSRP
 
Answer & Explanation Answer: A) PRSQ

Explanation:

'an' at the end of the first fixed segment indicates that Q, R and S can't follow the first segment. This leaves us with only one choice i.e. P. This eliminates options 2, 4, and 5.

There are only two such options: option A1and 3. Option 3 can be eliminated since part S ends with 'the' which can't be used as the end of the master statement. Hence, the correct sequence is PRSQ

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Q:

In the following questions, one part of the sentence may have an error. Find out which part of the sentence has an error and click the button
corresponding to it. If the sentence is free from error, click the "No error" option.
(A) The job is
(B) under the direct
(C) of Mrs Jones.
(D) No Error

A) A B) B
C) C D) D
 
Answer & Explanation Answer: B) B

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Q:

____________ is the relationship between the variable input and output, keeping all other inputs are held constant.

A) Total product B) Average product
C) Isoquant D) The Long Run
 
Answer & Explanation Answer: A) Total product

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