Questions

Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

Which of the following sets of taxes belongs to Central Government?

A) Excise duty, Sales tax and Custom duty B) Income tax, Custom duty and House tax
C) Excise duty, Custom duty and Income tax D) Custom duty, Entertainment tax and Income tax
 
Answer & Explanation Answer: C) Excise duty, Custom duty and Income tax

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Q:

Bilateral monopoly situation is

A) when there are only two sellers of a product B) when there are only two buyers of a product
C) when there is only one buyer and one seller of a product D) when there are two buyers and two sellers of a product
 
Answer & Explanation Answer: C) when there is only one buyer and one seller of a product

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Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 
 
Answer & Explanation Answer: C) how much buyers and sellers respond to changes in market conditions.

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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.

 

To know ______ reality, the powers of the mind need to be turned back upon itself. With concentration, the mind can ______ its innermost secrets, just as the darkest places reveal their secrets to the penetrating rays of light. We can then ______ soul truths, whether life exists for five minutes or for ______, and whether there is a God. To go beyond the mind and our present reality, we need to use the mind itself as a tool. Patanjali, in his Hatha Yoga Pradipika, stated, “Yoga is the ______ of the modifications of the mind.”

 

“Yoga is the ______ of the modifications

A) evolution B) ambition
C) bijection D) cessation
 
Answer & Explanation Answer: D) cessation

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Q:

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

The ______ of many archaic and dilatory procedures have proved to be extremely damaging to our governance and society.

A) caution B) translation
C) imposition D) revolution
 
Answer & Explanation Answer: C) imposition

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Q:

In the following question, a sentence has been given in Active/Passive voice. Out of four alternatives suggested, select the one, which best expresses the same sentence in Passive/Active voice.

They will advise me about the price of the accessories.

A) I will have been advised about the price of the accessories. B) I would have been advised about the price of the accessories.
C) I shall be advised about the price of the accessories. D) I would have had been advised about the price of the accessories.
 
Answer & Explanation Answer: C) I shall be advised about the price of the accessories.

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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 preacher challenged hundreds of thousands of young people who gathered in a ___________ Polish meadow to reject being a "____________" who retreats into video games and computer screens and instead engage in social activism and politics to create a more just world. __________ his speech with ______________, the 79- year-old pope, despite a long day of public appearances, addressed his eager audience with enthusiasm yesterday on a warm summer night. Pope Francis spoke of a ______________ that comes from merely seeking convenience, from confusing happiness with a complacent way of life that could end up depriving people of the ability to determine their own fates.


Pope Francis spoke of a ______________ that comes from merely seeking convenience

A) selfishness B) panic
C) paralysis D) calamity
 
Answer & Explanation Answer: C) paralysis

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