Questions

Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency.

A) Artificial B) Nominal
C) Fixed D) Real
 
Answer & Explanation Answer: B) Nominal

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Q:

If quantity of good X demanded increases from 4000 units to 5000 units when price of good Y increases from Rs 75 to Rs 90, find Arc Cross elasticity of demand?

A) 0.55 B) 1.66
C) 0.25 D) 1.22
 
Answer & Explanation Answer: D) 1.22

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Q:

Economic sanctions are mainly used to

A) to help international trade run smoothly. B) punish nations that disobey international law
C) to impose tariffs on vehicles at the border D) all the above
 
Answer & Explanation Answer: B) punish nations that disobey international law

Explanation:

A sanction is a punishment imposed on another nation, or on individual natives of another nation.


Economic sanctions are characterized as the withdrawal of standard exchange and money related relations for outside and security strategy purposes. They might be extensive, denying business movement as to a whole nation,...

 

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Q:

The consumption schedule relates:

A) disposable income to domestic income. B) consumption to the level of disposable income.
C) consumption to saving. D) saving to the level of disposable income.
 
Answer & Explanation Answer: B) consumption to the level of disposable income.

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Q:

Which of the following physiological symptoms are signs of stress?

A) Arthritis and carpal tunnel syndrome B) Dental cavities and bone loss
C) Headaches and elevated blood pressure D) Hearing and vision loss
 
Answer & Explanation Answer: C) Headaches and elevated blood pressure

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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

The most effective measure to keep (1)/ our roads safe is enforcement of rules (2)/ with zero tolerance to any violate rule. (3)/ No error. (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: C) 3

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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.

 

Business is for profits and the spirit of __________________ and driving high performance are encouraged in a ______________ environment. Also, in a democratic country like India, perceived _______________ in the distribution of earnings or wealth is crucial to hold the fabric of its society, be it the citizens __________ the country or employees of a corporation. The evolution of compensation practices in India over the ____________ five decades demonstrates the changes that have taken place.

 

India over the ____________ five decades

 

A) lastly B) lasting
C) at last D) last
 
Answer & Explanation Answer: D) last

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