Q:

If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?

A) 9000 units	B) 4500 units
C) 10500 units	D) 6000 units

Answer & Explanation Answer: D) 6000 units

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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:

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:

Which of these countries got Independence from United Kingdom?

A) Uzbekistan	B) India
C) Venezuela	D) South Korea

Answer & Explanation Answer: B) India

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Q:

Management accountants would not

A) prepare reports primarily for external users.	B) be concerned with the impact of cost and volume on profits
C) assist in budget planning.	D) determine cost behavior.

Answer & Explanation Answer: A) prepare reports primarily for external users.

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Q:

In Indian Constitution, ______ contains provisions related to Anti-defection law.

A) eighth schedule	B) ninth schedule
C) tenth schedule	D) eleventh schedule

Answer & Explanation Answer: C) tenth schedule

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Q:

In which of the following mentioned activities is the potential energy (P.E) converted into kinetic energy(K.E)?

A) The explosion of a fire cracker	B) The switching on of a torch
C) The switching off of a torch	D) The swinging of a pendulum

Answer & Explanation Answer: D) The swinging of a pendulum

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Q:

The work done in one complete revolution of the moon around the earth is equal to

A) centripetal force x radius of the orbit of the moon	B) gravitational force x circumference of the orbit of the moon
C) gravitational force x diameter of the orbit of the moon	D) zero

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