Questions

Q:

Which of the following statements is incorrect, if resources were unlimited?

A) there would still be scarcity and opportunity costs B) there would still be scarcity but no opportunity costs
C) there would be no scarcity, but there would be opportunity costs. D) there would neither be scarcity nor opportunity costs
 
Answer & Explanation Answer: C) there would be no scarcity, but there would be opportunity costs.

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Q:

The consumption and saving schedules reveal that the:

A) MPC and APC are equal at the point where the consumption schedule intersects the 45-degree line. B) MPC is equal to or greater than one at all income levels.
C) MPC is greater than zero, but less than one. D) APS is positive at all income levels.
 
Answer & Explanation Answer: C) MPC is greater than zero, but less than one.

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Q:

Price elasticity of demand is generally

A) tends to be smaller in the short run than in the long run. B) tends to be smaller in the long run than in the short run.
C) tends to be unrelated to the length of time. D) tends to be larger in the short run than in the long run.
 
Answer & Explanation Answer: A) tends to be smaller in the short run than in the long run.

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Q:

What is the full form of GST?

A) Good and Services Tax B) Goods Sales Tax
C) Grand Sales Tax D) General Sales Tax
 
Answer & Explanation Answer: A) Good and Services Tax

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Q:

Who is the Union Minister of the Ministry of Commerce and Industry as of February 2018?

A) Suresh Prabhu B) Sushma Swaraj
C) Anand Geete D) Uma Bharti
 
Answer & Explanation Answer: A) Suresh Prabhu

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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 general consensus is that the millennial _____________ with taking pictures of everything stems from the tendency to over- share on social media, but it may also be a manifestation _______________ our relationship with an increasingly unstable present. When everything around you _______________ before you can register it, it is tempting to reach into your pocket for your smartphone, click away, and think about it later, even ___________ the subject is as simple as a slice of toast. The selfie may be narcissistic, but it is ___________ a self-portrait that anchors you to a time and place, be it your first holiday abroad or the nightclub you visit every weekend.

 

but it is ___________ a self-portrait that anchors

 

A) all   B) then  
C) such   D) also
 
Answer & Explanation Answer: D) also

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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

 

______ European was seen eating Kadi Chawal in New Delhi.

 

A) An B) A
C) The D) All
 
Answer & Explanation Answer: B) A

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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'.

 

A team of researchers from the University of Florence and Germany's University of Bonn found that plants (1)/ respond to anesthetics the same way that (2)/humans and animals does. (3)/  No error (4)

 

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

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