Q:

The demand for a inferior good increases with ________ in the consumer's income.

A) increase	B) decrease
C) constant	D) double

Answer & Explanation Answer: B) decrease

Explanation:

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Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand	B) Law of supply
C) Law of substitution	D) Law of optimal choice

Answer & Explanation Answer: A) Law of demand

Explanation:

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Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied	B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity	D) elasticity of demand equals elasticity of supply

Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four andindicate it by selecting the appropriate option.

He was sworn _____ as the Prime Minister of our country

A) in	B) off
C) about	D) it

Answer & Explanation Answer: A) in

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Q:

Deep ocean trenches are associated with

Answer

Ocean trenches are the deepest parts of the ocean. Deep ocean trenches are associated with Constantly Moving a certain type of volcanic chain called an island arc and with zones of high earthquake activity.

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