Questions

Q:

An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y.

A) same B) higher
C) lower D) minimum
 
Answer & Explanation Answer: A) same

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Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?

A) Macroeconomics B) Econometrics
C) Microeconomics D) Heterodox Economics
 
Answer & Explanation Answer: C) Microeconomics

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Q:

The consumption schedule relates:

A) disposable income to domestic income. B) consumption to the level of disposable income.
C) consumption to saving. D) saving to the level of disposable income.
 
Answer & Explanation Answer: B) consumption to the level of disposable income.

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Q:

The question below consists of a set of labelled sentences. Out of the four options given, select the most logical order of the sentences to form a coherent paragraph.

P- Granted, political defection is increasingly less an act of ideological defiance than one of pure opportunism.

Q- Yet, for all it flaws, the current law recognizes and respects one fundamental principle: The right to dissent.

R- A blanket ban on defection will weaken rather than strengthen democracy, in whose name it is being sought to be imposed.

S- Granted also that it is illogical to allow a third of the party to split but not in a lesser number.

A) RPSQ B) PSRQ
C) RSPQ D) PRSQ
 
Answer & Explanation Answer: A) RPSQ

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Q:

A shop keeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of cost price to the printed price of the book is

A) 45:56 B) 50:61
C) 99:125 D) None of these
 
Answer & Explanation Answer: A) 45:56

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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.

While language as the medium ___________ thought may be compared to air as the medium of the sun's influence, in other _____________ it is like the skin of the body; a scurvy skin shows bad blood within, and a scurvy language shows inaccurate thought ___________ a confused mind. And as a disease once fixed on the skin reacts and poisons the blood in turn as it has first been poisoned by the blood, so careless use of language __________ indulged reacts on the mind to make it permanently and increasingly _____________, illogical, and inaccurate in its thinking.

increasingly _____________, illogical, and

A) carelessness B) carelessly
C) careless D) care less
 
Answer & Explanation Answer: C) careless

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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.


_____________ who argue in this way support their case by pointing to the lack of a general consensus of opinion which obtains in many parts of the field which the philosopher regards as his own; and also by ____________ out that, even within this field, there is a growing tendency ___________ the part of certain sciences to separate themselves from philosophy and _____________ independent. Thus the psychologist and the logician are sometimes very anxious to have it understood that they belong among the scientists and ___________ among the philosophers.


from philosophy and _____________ independent.

A) become B) became
C) becoming D) becomes
 
Answer & Explanation Answer: A) become

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