Q:

The market for sugar is in equilibrium. If the supply of sugar increases, the equilibrium price of sugar will ________ and the equilibrium quantity will _________.

A) increase; increase	B) decrease; decrease
C) increase; decrease	D) decrease; increase

Answer & Explanation Answer: D) decrease; increase

Explanation:

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Filed Under: Indian Economy
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Q:

The number of days' sales uncollected is calculated by

A) Dividing accounts receivable by net sales and multiplying by 365.	B) Dividing net sales by accounts receivable and multiplying by 365.
C) Dividing accounts receivable by net sales.	D) Dividing net sales by accounts receivable.

Answer & Explanation Answer: A) Dividing accounts receivable by net sales and multiplying by 365.

Explanation:

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Q:

What is a bank rate?

A) Rate at which Central bank of a country advances loans to other banks in the country	B) Rate at which banks advance loans to the customers
C) Rate at which banks lend among themselves	D) Rate at which banks lend to money lenders

Answer & Explanation Answer: A) Rate at which Central bank of a country advances loans to other banks in the country

Explanation:

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Q:

Goods for which demand move in the opposite direction of the income of the consumer are called?

A) Inferior goods	B) Normal goods
C) Complementary goods	D) Substitute goods

Answer & Explanation Answer: A) Inferior goods

Explanation:

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Q:

In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best
expresses the same sentence in Indirect/Direct speech.
They said, “We will attend the performance tomorrow.”

A) They said that they would attend the performance the day after tomorrow.	B) They said that they will attend the performance the day after.
C) They said that they would attend the performance the next day.	D) They said that they will attend the performance the day after tomorrow.

Answer & Explanation Answer: C) They said that they would attend the performance the next day.

Explanation:

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Q:

The oldest oil field in Asia is located in

A) Gujarat	B) Assam
C) Arunachal Pradesh	D) Nagaland

Answer & Explanation Answer: B) Assam

Explanation:

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Q:

Read each sentence to find out whether there is any grammatical error in it. The error, if any, will be in one part of the sentence. If there is no error, theanswer is (E), ie ‘No error’. (Ignore the errors of punctuation, if any.)

The reason why he failed/ to attend the meeting/ with a complete presentation/ was because he was unwell./ No error

A) The reason why he failed	B) to attend the meeting
C) with a complete presentation	D) was because he was unwell.

Answer & Explanation Answer: D) was because he was unwell.

Explanation:

The group of words “the reason why" already indicates the reason. There is no need to use the word “because". The word connecting the two clauses should be “that".

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Q:

What is the type of Energy possessed by a stretched rubber band?

A) Potential energy	B) Kinetic energy
C) Chemical energy	D) Thermal energy

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