Questions

Q:

The demand curve facing a perfectly competitive firm is

A) downward sloping B) perfectly inelastic
C) a concave curve D) perfectly elastic
 
Answer & Explanation Answer: D) perfectly elastic

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Q:

A manufacturer faces price elasticity of demand of a ­1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.

A) 5.15 percent B) 7.65 percent
C) 8 percent D) 5.12 percent
 
Answer & Explanation Answer: C) 8 percent

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Q:

____ forms a common passage for both urine and sperms in human males.

A) Oviduct B) Ureter
C) Urethra D) Vas deferens
 
Answer & Explanation Answer: C) Urethra

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Q:

Which of the following part of plant cell, is selectively permeable?

A) Cell wall B) Cell membrane
C) Cytoplasm D) Nucleus
 
Answer & Explanation Answer: B) Cell membrane

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Q:

Which of the following metals does NOT react with cold or hot water?

A) Aluminium B) Potassium
C) Sodium D) Calcium
 
Answer & Explanation Answer: A) Aluminium

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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:

__________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: A) Law of diminishing marginal product

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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 thefour alternatives.

When the kerosene burned, the fuel in the tank below would be __________ pressure, and __________ a small circular flame would appear in the burner. The valve had tobe opened to let more kerosene vapour to the burner and pumping resumed. With the increase in pressure, the burner flame would spread _________ a loud noise. Tolower the flame, the valve had to be _________ opened to reduce the pressure and then tightened until the desired flame size was achieved. _________ you wanted theflame to be bigger, you had to hit the piston again. Pump stoves are still in vogue.

had to be _________ opened to reduce

A) partly B) some
C) none D) everything
 
Answer & Explanation Answer: A) partly

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