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Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

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Q:

The short run marginal cost curve is ____ shaped.

A) U B) V
C) X D) W
 
Answer & Explanation Answer: A) U

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Q:

_____ are a group of chemicals that influence cell division and shoot formation.

A) Cytokinins B) Gibberellins
C) Domins D) Auxins
 
Answer & Explanation Answer: A) Cytokinins

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Q:

Read each sentence to find out whether there is an error in it. The error, if any, will be in one part of the sentence. If there is no error, the answer will be “No Error”.

A) Linking traditional American Native stories B) to historic records of a Japanese tsunami
C) was considered an exception, not the start D) of a fruitful geological collaboration.
 
Answer & Explanation Answer: A) Linking traditional American Native stories

Explanation:

In 1 part, use of 'Native' after ‘American’ is incorrect. Also ‘traditional’ should come before ‘stories’. Native is an adjective that is used here for American and not stories. So native will come before American. Traditional is used as an adjective for stories. This is a case of misplaced modifiers.Hence 1 is the correct choice.

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Q:

What is the Greenhouse Effect?

A) The fall in population of plants due to human activity B) It is the warming of earth's surface due to its atmosphere
C) The polluting effect of burning fossil fuels D) The heating of the atmosphere due to depletion of the ozone layer
 
Answer & Explanation Answer: B) It is the warming of earth's surface due to its atmosphere

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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:

In India, how much percent of GDP is the fiscal deficit target for the Financial Year 2017-18?

A) 4.20% B) 3.20%
C) 2.20% D) 4.00%
 
Answer & Explanation Answer: B) 3.20%

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Q:

If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is

A) 12.50% B) 8%
C) 10% D) 15%
 
Answer & Explanation Answer: A) 12.50%

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