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

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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Filed Under: Indian Economy
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Q:

If cash reserve ratio decreases, credit creation will _______.

A) increase	B) decrease
C) does not change	D) first decreases than increases

Answer & Explanation Answer: A) increase

Explanation:

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Q:

For a price taking firm, average revenue is ______ market price.

A) half of	B) equal to
C) double of	D) less than

Answer & Explanation Answer: B) equal to

Explanation:

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Q:

This tax is entirely borne by the entity it is levied upon and cannot be passed.

A) Direct tax	B) Indirect tax
C) Straight tax	D) Advance tax

Answer & Explanation Answer: A) Direct tax

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Q:

A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, it must lower its price by

A) 7.5 percent	B) 7.8 percent
C) 10.2 percent	D) 10 percent

Answer & Explanation Answer: A) 7.5 percent

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Q:

Which of the following best describes monetary policy?

A) Managing the economy by controlling the money supply	B) Determining the design printed on the national currency
C) Regulating transactions in the currency exchange market	D) Raising and lowering the foreign exchange rate

Answer & Explanation Answer: A) Managing the economy by controlling the money supply

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Q:

The maximum number of electrons that can be accommodated in M shell is

A) 8	B) 2
C) 18	D) 32

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