Questions

Q:

__________ is defined as the output per unit of variable input

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: D) Average product

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Q:

A price floor is _____.

A) a maximum legal price B) a minimum legal price
C) the price where demand equals supply D) the price where elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: B) a minimum legal price

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Q:

In which form is glucose stored in our body?

A) Insulin B) Glucose
C) Glycogen D) Fat
 
Answer & Explanation Answer: C) Glycogen

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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:

A minimum wage _____.

A) is the price floor below which workers may not sell their labor B) is set at a price below the equilibrium wage
C) creates a price ceiling below which the wage cannot legally go D) decreases unemployment
 
Answer & Explanation Answer: A) is the price floor below which workers may not sell their labor

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Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 
 
Answer & Explanation Answer: C) how much buyers and sellers respond to changes in market conditions.

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Q:

Which process is not associated with mechanical weathering?

A) reactions with oxygen B) frost wedging
C) biological oxygen activity D) unloading
 
Answer & Explanation Answer: A) reactions with oxygen

Explanation:

The process that occurs when physical forces break rock into smaller pieces without changing the rock's chemical composition is called mechanical weathering.

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Q:

In January 2018, who has been awarded the 9th Infosys award for engineering and computer science?

A) Sanghamitra Bondopadhyaya B) Ananya J. Kabir
C) Upinder Singh Bhalla D) Ritabrata Munsi
 
Answer & Explanation Answer: A) Sanghamitra Bondopadhyaya

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