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:

__________ resources are those resources whose quantity is known.

A) Natural resources B) Actual resources
C) Potential resources D) Abiotic resources
 
Answer & Explanation Answer: B) Actual resources

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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:

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:

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 new civilisation of Righteousness and __________, and therefore of Brotherhood, of ordered Liberty, of Peace, of __________, cannot be built up until the elements are removed ______________ have brought the old civilisation crashing about our ears. _________________ is it necessary that the War shall be fought out to its appointed end, and that _______________ premature peace shall leave its object unattained.

 

Righteousness and __________, and therefore of Brotherhood,

 

A) judge B) judgments
C) Justice D) Judiciary
 
Answer & Explanation Answer: C) Justice

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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.

 

This is the arresting and dominant fact about modern social discussion; that the quarrel is __________ merely about the difficulties, but about the aim. We agree about the evil; it is about the good that we should tear each ____________ eyes out. We all admit that a lazy aristocracy is a bad thing. We should not by ________ means all admit that an active aristocracy would be a good thing. We all feel angry with an irreligious priesthood; but some of us would _______ mad with disgust at a really religious one. Everyone is indignant if our army is weak, _____________ the people who would be even more indignant if it were strong.

 

but some of us would _______ mad with disgust

 

A) go B) gone
C) going D) went
 
Answer & Explanation Answer: A) go

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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.

 

Widespread liberalization of the economic ________________ regime was long overdue in 1991, and has played a positive role since, but its impact has ________________ its course and the policy has recognisable ___________________. Liberalization cannot address all aspects of the man­made environment and now climate change ________________ to change everything forever. We do not have another quarter century to deal ___________ these imperatives.

 

the policy has recognisable ___________________.

 

A) limits B) constraint
C) considerations D) fault
 
Answer & Explanation Answer: A) limits

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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 way criminal justice is designed and administered today _______________ serves any of the purposes for which it is set up: towards securing life and property. It does not ________________ criminals because of the delay and uncertainties involved in its processes and ridiculously ineffective punishments it imposes ____________________ those few who get convicted. It provides wide discretion to the police and the prosecution, __________________ the system vulnerable to corruption and manipulation and endangering basic ____________________ of innocent citizens.


today _______________ serves any of the purposes for which it is set up: towards securing life and property.

 

A) little B) only
C) hardly D) scantily
 
Answer & Explanation Answer: C) hardly

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