Questions

Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

A ___________ deficit is financed by net capital flows from the rest of the world, thus by a capital account surplus.

A) Current Account B) Savings Account
C) Capital Account D) Asset Account
 
Answer & Explanation Answer: A) Current Account

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Q:

What is an octroi ?

A) Tax B) Tax collection centre
C) Tax processing centre D) Tax information centre
 
Answer & Explanation Answer: A) Tax

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Q:

If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is

A) 12.50% B) 8%
C) 10% D) 15%
 
Answer & Explanation Answer: A) 12.50%

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Q:

The SLR is determined by the RBI. SLR stands for

A) States Leverage Return B) Savings Lease Rate
C) Statutory Liquidity Ratio D) Safe Legal Range
 
Answer & Explanation Answer: C) Statutory Liquidity Ratio

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Q:

If a Panchayat is dissolved, elections are to be held within -

A) Six months from the date of dissolution B) Twelve months from the date of dissolution
C) Two months from the dateof dissolution D) One month from the dateof dissolution
 
Answer & Explanation Answer: A) Six months from the date of dissolution

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Q:

A compressed spring possesses more energy than a spring of normal length because the compressed spring has

A) chemical energy B) potential energy
C) heat energy D) kinetic energy
 
Answer & Explanation Answer: B) potential energy

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Q:

According to Indian Constitution, there are three organs of government. Which among the following is/are NOT an organ/organs of it?

I. The legislature

II. The Media

III. The Judiciary

 

A) Only I B) Only II
C) Only III D) Only I and III
 
Answer & Explanation Answer: B) Only II

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