Questions

Q:

Which of the following is added to iron to make iron hard and strong?

A) Zinc B) Copper
C) Carbon D) Sodium
 
Answer & Explanation Answer: C) Carbon

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Q:

Alkali metals are assigned which group in the Modern Periodic Table?

A) Second group B) Eighteenth group
C) Third group D) First group
 
Answer & Explanation Answer: D) First group

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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) It B) was raining
C) cats and dogs. D) No error
 
Answer & Explanation Answer: D) No error

Explanation:

The given sentence is grammatically correct and there is no error.

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Q:

If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?

A) 9000 units B) 4500 units
C) 10500 units D) 6000 units
 
Answer & Explanation Answer: D) 6000 units

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: A) increase; increase

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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:

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:

The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____.

A) Cyclical unemployment B) Frictional unemployment
C) Seasonal unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Seasonal unemployment

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