Questions

Q:

In December 2017, Mid-Term Review of the Foreign Trade Policy (FTP) was released. The review announced how much percent increase each in incentive rates of
Merchandise Exports from India Scheme and Services Export from India Scheme?

A) 5% B) 10%
C) 2% D) 15%
 
Answer & Explanation Answer: C) 2%

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Q:

Economics assumes that

A) people have unlimited desires but limited resources B) people have limited desires but unlimited resources
C) allocation of resources if not centrally planned will cause inefficiency D) people are emotional and make irrational decisions
 
Answer & Explanation Answer: A) people have unlimited desires but limited resources

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Q:

The account receivable turnover measures

A) How often, on average receivables are received and collected during the period B) How long it takes to sell accounts receivable to a factor
C) The relation of cash sales to credit sales D) How long it takes to sell merchandise inventory
 
Answer & Explanation Answer: A) How often, on average receivables are received and collected during the period

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Q:

Who is the only Indian economist to have won the Nobel prize?

A) Avinash Dixit B) Amit Mishra
C) Amartya Sen D) Abhijit Banerjee
 
Answer & Explanation Answer: C) Amartya Sen

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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 quest for a _____ life engrosses every human being on this earth. Everyman tends to define a happy life in a _____ individualistic fashion. _____have attempted to define a happy life in various terms. Hedonists have a _____ notion that happiness lies in the _____ of physical appetites.

on this earth. Everyman tends to define a happy life in a _____ individualistic fashion.

A) distinctly B) identically
C) similar D) serious
 
Answer & Explanation Answer: A) distinctly

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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'.

India, a country of more than 1 billion (1)/ population, is emerged as the (2)/ economic superpower of the world. (3)/ No error (4)

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

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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 express the same sentence in Indirect/Direct speech.

 

He said that when he was a boy he could stay up as long as he liked.

A) He said,"When I had been a boy I could stay up as long as I liked." B) He told,"When I was a boy I could stay up as long as I liked."
C) He said,"When I was a boy I could stay up as long as I liked." D) He said,"When I am a boy I can stay up as long as I like."
 
Answer & Explanation Answer: C) He said,"When I was a boy I could stay up as long as I liked."

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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 express the same sentence in Indirect/Direct speech.

She said,"We were thinking of selling the house but we had decided not to"

A) She said that they were thinking of selling the house but they decided not to. B) She said that they thought of selling the house but decided not to.
C) She said that they have been thinking of selling the house but decided not to. D) She said that they had been thinking of selling the house but had decided not to.
 
Answer & Explanation Answer: A) She said that they were thinking of selling the house but they decided not to.

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