Questions

Q:

According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to 

A) improve B) diminish
C) remain constant D) first diminish and then improve
 
Answer & Explanation Answer: B) diminish

Explanation:

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.

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Q:

"The General Equilibrium Analysis" was developed by

A) Marshall B) Ricardo
C) Walras D) Adam Smith
 
Answer & Explanation Answer: C) Walras

Explanation:
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Q:

In 2015, the nominal rate of interest in a country was 8% and the inflation rate then was 2.5%. So real rate of interest in 2015 was

A) 3.2 percent B) 10.5 percent
C) 8 percent D) 5.5 percent
 
Answer & Explanation Answer: D) 5.5 percent

Explanation:
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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'.

"You didn't answer my (1)/ question," he said, (2)/ stepping to her. (3)/No Error (4)

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

Explanation:
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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'.

 

You have been working very hard (A)/ for the past two years.(B)/ isn't it? (C)/ No Error (D)

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

Explanation:
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Q:

In the following question the 1st and the last part of the sentence/passage are numbered 1 and 6. The rest of the sentence/ passage is split into four parts and named P, Q, R and S. These four parts are not given in their proper order. Read the sentence/passage and find out which of the four combinations is correct.

 

1. Why should I tell you again and again?
P. They know what they have to do.
Q. Don't you know your duties?
R. Only you require to be told.
S. Other students need not be told.
6. I will not tolerate this anymore.

A) QSPR B) QRPS
C) SPRQ D) QPSR
 
Answer & Explanation Answer: A) QSPR

Explanation:
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Q:

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.


Implanting standards, right values, the science of good and evil are an essential part of education. Many forces thwart this to work, but two of the most serious hindrances to it are examinations and specialization. The examination system is both an opiate and a poison. It is an opiate because it lulls Man into believing that all is well when most is ill. It is a poison because it paralyses or at least slows down the natural activities of the healthy mind. Man finds himself a creature of unknown capacities in an unknown world, wants to learn what the world is like, what he should be and do in it. To help him in answering these questions is the one and only purpose of education. However, tests of progress are useful and necessary. Examinations are harmless when the examinee is indifferent to their result, but as soon as they matter, they begin to distort his attitude to education and to conceal its purpose. For disinterestedness is the essence of all good education and liberal education is impossible without it.

 

One of the core elements of education is :

A) A right value system B) A good examination system
C) A system with extra-curricular activities D) A system with specialization
 
Answer & Explanation Answer: A) A right value system

Explanation:
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Q:

In the following question, sentence given with blank is to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

For three months, I have had a ______________headache.

A) inbred B) settled
C) chronic D) lifelong
 
Answer & Explanation Answer: C) chronic

Explanation:
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