Questions

Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

Explanation:
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Q:

In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ________ signals.

A) Supply B) Demand
C) Price D) Stock Market
 
Answer & Explanation Answer: C) Price

Explanation:
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Q:

Which of the following is a Block Mountain?

A) Vosges B) Black forest
C) Sierra Nevada D) All options are correct
 
Answer & Explanation Answer: D) All options are correct

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Q:

Read each sentence to find out whether there is any error in any underlined part and indicate your response in the Answer Sheet against the corresponding letter i.e., (a) or (b) or (c). If you find no error, your response should be indicated as (d).

A) Of the many problems that confront the leaders of the world B) none are of grave consequence than the problem of saving
C) the normal human race from extinction. D) No error
 
Answer & Explanation Answer: B) none are of grave consequence than the problem of saving

Explanation:

Error is in second part. Replace ‘grave’ with ‘graver’. Since problems are being compared in the given sentence we will use the comparative form of ‘grave’ that is ‘graver’.

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Q:

Identify an example of a connective tissue in humans.

A) Fibres B) Bone
C) Muscles D) Cell
 
Answer & Explanation Answer: B) Bone

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Q:

In India, how much percent of GDP is the fiscal deficit target for the Financial Year 2017-18?

A) 4.20% B) 3.20%
C) 2.20% D) 4.00%
 
Answer & Explanation Answer: B) 3.20%

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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:

In the given question, an idiom/phrase highlighted in bold is given in a sentence. Choose the most suitable meaning of the idiom/phrase.

I heard it on the grapevine that the vacancies are going to be increased this year for many posts.

A) To hear some official news about something B) To inform people about something
C) To acquire information by unofficial communication D)  To be sure of something
 
Answer & Explanation Answer: C) To acquire information by unofficial communication

Explanation:

The idiom “to hear it on the grapevine” means to hear about something from informal communication or to hear a gossip. The above sentence talks about the rumour that is spread about the number of vacancies for various posts. Hence, option 3 is correct.

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