Questions

Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity D) elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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Q:

If for a perfectly competitive firm, price is Rs 7.2, output is 4500 units, average variable costs are Rs 1.2, and average total costs are Rs 4. The firm's profits are equal to

A) Rs 7200 B) Rs 9000
C) Rs 14400 D) Rs 19800
 
Answer & Explanation Answer: C) Rs 14400

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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:

Which of the following is added to iron to make iron hard and strong?

A) Zinc B) Copper
C) Carbon D) Sodium
 
Answer & Explanation Answer: C) Carbon

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Q:

Which of the following is NOT a noble gas?

A) Radon B) Krypton
C) Xenon D) Hydrogen
 
Answer & Explanation Answer: D) Hydrogen

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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 new civilisation of Righteousness and __________, and therefore of Brotherhood, of ordered Liberty, of Peace, of __________, cannot be built up until the elements are removed ______________ have brought the old civilisation crashing about our ears. _________________ is it necessary that the War shall be fought out to its appointed end, and that _______________ premature peace shall leave its object unattained.

 

Righteousness and __________, and therefore of Brotherhood,

 

A) judge B) judgments
C) Justice D) Judiciary
 
Answer & Explanation Answer: C) Justice

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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'.

 

The salaried class may feel hard done by (1)/ and the young may not seeing a swift surge in (2)/ employment opportunities as a result of the Budget proposals.(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 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.

 

Widespread liberalization of the economic ________________ regime was long overdue in 1991, and has played a positive role since, but its impact has ________________ its course and the policy has recognisable ___________________. Liberalization cannot address all aspects of the man­made environment and now climate change ________________ to change everything forever. We do not have another quarter century to deal ___________ these imperatives.

 

the policy has recognisable ___________________.

 

A) limits B) constraint
C) considerations D) fault
 
Answer & Explanation Answer: A) limits

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