Questions

Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs B) price = average profit
C) price = marginal costs = minimum average total costs D) price = minimum average variable costs
 
Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Filed Under: Indian Economy
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Q:

In which of the following types of economy are the factors of production owned individually?

A) Capitalist B) Socialist
C) Mixed D) Both Capitalist and Socialist
 
Answer & Explanation Answer: A) Capitalist

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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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Filed Under: Indian Economy
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Q:

First time which year the Railway Budget and the General Budget were presented separately?

A) 1923 B) 1947
C) 1952 D) 1977
 
Answer & Explanation Answer: A) 1923

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Q:

Macro economics deals with

A) the circular flow of income B) the decision making of a single economic variable like demand
C) resource allocation at firm level D) equilibrium prices and quantities
 
Answer & Explanation Answer: A) the circular flow of income

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Q:

Read each sentence to find out whether there is any error in any underlined part and indicate your response in the Answer Sheet against the corresponding letter i.e., (a) or (b) or (c). If you find no error, your response should be indicated as (d).

A) Tell him to take B) another photograph
C) of the group D) No error
 
Answer & Explanation Answer: A) Tell him to take

Explanation:

The error is in first part. ‘Tell’ should be replaced with ‘Ask’. Tell is a command whereas Ask is a request and hence more courteous in this case. As this is a request the sentence should start with ‘Ask’ rather than ‘tell’.

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Filed Under: English
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Q:

Hydra reproduces by

A) Fragmentation B) Multiple fission
C) Budding D) Binary fission
 
Answer & Explanation Answer: C) Budding

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Filed Under: Biology
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Q:

How many bones does a new born human baby have?

A) 350 B) 206
C) 211 D) 411
 
Answer & Explanation Answer: A) 350

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Filed Under: Biology
Exam Prep: AIEEE , Bank Exams

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