Questions

Q:

Which State in India has the highest forest cover?

A) Kerala B) Madhya Pradesh
C) Maharashtra D) Bihar
 
Answer & Explanation Answer: B) Madhya Pradesh

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Q:

Which of the following statements is incorrect, if resources were unlimited?

A) there would still be scarcity and opportunity costs B) there would still be scarcity but no opportunity costs
C) there would be no scarcity, but there would be opportunity costs. D) there would neither be scarcity nor opportunity costs
 
Answer & Explanation Answer: C) there would be no scarcity, but there would be opportunity costs.

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Q:

The consumption and saving schedules reveal that the:

A) MPC and APC are equal at the point where the consumption schedule intersects the 45-degree line. B) MPC is equal to or greater than one at all income levels.
C) MPC is greater than zero, but less than one. D) APS is positive at all income levels.
 
Answer & Explanation Answer: C) MPC is greater than zero, but less than one.

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Q:

What is the full form of GST?

A) Good and Services Tax B) Goods Sales Tax
C) Grand Sales Tax D) General Sales Tax
 
Answer & Explanation Answer: A) Good and Services Tax

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Q:

Price elasticity of demand is generally

A) tends to be smaller in the short run than in the long run. B) tends to be smaller in the long run than in the short run.
C) tends to be unrelated to the length of time. D) tends to be larger in the short run than in the long run.
 
Answer & Explanation Answer: A) tends to be smaller in the short run than in the long run.

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Q:

Globalization of the economy has

A) decreased regional specialization of production B) decreased investment in less developed countries
C) heightened economic differences among places D) leveled economic differences between places
 
Answer & Explanation Answer: C) heightened economic differences among places

Explanation:

Economic globalization is the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.

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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.

 

appointed end, and that _______________ premature peace

 

A) not B) nor
C) no D) never
 
Answer & Explanation Answer: C) no

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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'.

 

Early marriages only not leads to high-population (1)/ and thwart the progress of our young population, (2)/ they entail an enormous amount of trouble to young mothers. (3)/ No error (4)

 

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

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