Questions

Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs B) price = average profit
C) price = marginal costs = minimum average total costs D) price = minimum average variable costs
 
Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Q:

The law of demand states that

A) if the price of a good increases, the demand for that good decreases. B) if the price of a good increases, the the demand for that good increases.
C) if the price of a good increases, the quantity demanded of that good decreases. D) if the price of a good increases, the quantity demanded of that good increases.
 
Answer & Explanation Answer: C) if the price of a good increases, the quantity demanded of that good decreases.

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Q:

The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency.

A) Artificial B) Nominal
C) Fixed D) Real
 
Answer & Explanation Answer: B) Nominal

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Q:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic B) indifferent
C) market demand D) diminishing
 
Answer & Explanation Answer: C) market demand

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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.


Equally disappointing is the court's ________________, one-paragraph dismissal of the claim that criminal ________________ creates a chilling effect upon speech. Such proclamations are easy _______________ from the high, secure, and insulated bench of the Supreme Court. It is journalists and newspapers, fighting hundreds of _____________ cases in court, _______________ have to deal with the very real consequences.


Such proclamations are easy _______________ from the high

A) making B) made
C) for making D) to make
 
Answer & Explanation Answer: D) to make

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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'.

 

Priya got good grades(A)/not in Hindi essay(B)/but also in arithmetic.(C)/No error(D)

A) A B) B
C) C D) D
 
Answer & Explanation Answer: B) B

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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.


Targeting inflation comes from a belief that policy should be _________ and transparent, so that the private sector can factor this ___________ their decision-making. The question that this ________ is: are there more "complicated" policies which _________ better? I just note that one such policy is called "nominal income targeting". _____________ it is more complicated and the private sector is deemed to be intellectually challenged.

policy should be _________ and transparent,

A) elaborate B) detailed
C) easy D) simple
 
Answer & Explanation Answer: D) simple

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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.

As one of the most misunderstood practices, yoga has often borne the brunt of being __________ in extremes: of yogis in pretzel-like contortions at __________ end of the spectrum, and young Instagram-led, erstwhile-overweight beach posers ____________ the other. The truth is that yoga is what you want it to be — the ultimate customisable exercise form. For a runner, it may mean lengthening muscles to gain _______________, while for someone who is hyper-flexible, it could be a way of __________core strength.

erstwhile-overweight beach posers ____________ the other.

A) in B) on
C) of D) at
 
Answer & Explanation Answer: D) at

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