Questions

Q:

Which   one   of   the   following   statements about the justice Party is not correct?

A) It  clamoured  for  the  same  kind  of separate  communal  representation  for the Non-Brahmins as had been granted to  the  Muslims  by  the  Morley-Minto Reforms. B) It   was   patronized   mainly   by   richer landowning   and   urban   middle   class Non-Brahmins.
C) It  succeeded  in  getting  the  provision for  28  reserved  seats  for  the  Non-Brahmins  in  the  Montagu-Chelmsford Reforms. D) It   supported  the   call   given   by   the Congress toboycott elections in 1920.
 
Answer & Explanation Answer: D) It   supported  the   call   given   by   the Congress toboycott elections in 1920.

Explanation:

The Justice  Party  was  a  political party in the Madras Presidency of British  India.  It  was founded    byT.    M.    Nairand P. Theagaraya     Chetty     in     1916. Communal division between Brahminsand non-Brahmins  began  in  the  presidency during   the   late-19th   and   early-20th century, mainly due to caste prejudices and disproportionate Brahminical representation in government jobs. The    Justice    Party's    foundation marked  the  culmination  of  several efforts to establish  an organisation to  represent  the  non-Brahmins  in Madras.  Founders  of  Justice  Party though  that  Congress  was  mainly Brahmin    party,    so    it    started opposing Congress

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Q:

Which of the following states has the lowest literacy rate?

A) Kerala B) Rajasthan
C) Bihar D) Maharashtra
 
Answer & Explanation Answer: C) Bihar

Explanation:
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Q:

Who among the following has been awarded the Indira Gandhi Award for National Integraty on October 31, 2017?

A) Praveen Nair B) Pankaj Ruhela
C) T.M. Krishna D) K.R. Reddy
 
Answer & Explanation Answer: C) T.M. Krishna

Explanation:
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Q:

Which  one  of  the  following  indices  is  now used  by  the  Reserve  Bank  of  India  to measure the rate of inflation in India?

A) NASDAQ Index B) BSE Index
C) Consumer Price Index D) Wholesale Price Index
 
Answer & Explanation Answer: C) Consumer Price Index

Explanation:

The  Wholesale  Price  Index  (WPI) was  main  index  for  measurement of  inflation  in  India  till  April  2014 when  RBI  adopted  new  Consumer Price   Index   (CPI)   as   the   key measure of inflation.

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Q:

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

A) 3% B) 10%
C) 2.50% D) 7%
 
Answer & Explanation Answer: B) 10%

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Q:

Calculate the economic profit for a firm if it's total revenues are Rs. 35 crores, explicit costs are Rs. 7 crores, and implicit costs are Rs. 10 crores.

A) Rs. 32 crores B) Rs. 52 crores
C) Rs. 18 crores D) Rs. 38 crores
 
Answer & Explanation Answer: C) Rs. 18 crores

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Q:

Which is the form of market where there is lack of competition?

A) Monopoly B) Oligopoly
C) Perfect competition D) Marketisation
 
Answer & Explanation Answer: A) Monopoly

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Q:

Strait of Gibraltar connects which of the following?

A) Red Sea ­ Mediterranean Sea B) Red Sea ­ Arabian Sea
C) Atlantic Ocean ­ Mediterranean Sea D) Mediterranean Sea ­ Black Sea
 
Answer & Explanation Answer: C) Atlantic Ocean ­ Mediterranean Sea

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