Questions

Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs B) price = average profit
C) price = marginal costs = minimum average total costs D) price = minimum average variable costs
 
Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Q:

In 2015 the nominal rate of interest in country was 6%, and the inflation rate then was 1.5%. So real rate of interest in 2015 was

A) 7.50% B) 4.50%
C) 4% D) 0.25%
 
Answer & Explanation Answer: B) 4.50%

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Q:

Which of the following is NOT included in general methodology while assessing the national income?

A) Pension B) Investment Expenditure
C) Value added D) Consumption Expenditure
 
Answer & Explanation Answer: A) Pension

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Q:

Rate of the growth of an economy is measured in terms of

A) National income B) Monthly family income
C) Number of people who have been lifted above the poverty line D) Industrial Development
 
Answer & Explanation Answer: A) National income

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Q:

The goal of expansionary fiscal policy is to increase

A) Unemployment B) The price level
C) Aggregate supply D) Real GDP
 
Answer & Explanation Answer: D) Real GDP

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Q:

Who wrote the book "Gone with the Wind"?

A) Jane Austen B) William Blake
C) Charles Dickens D) Margaret Mitchell
 
Answer & Explanation Answer: D) Margaret Mitchell

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Filed Under: Books and Authors
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Q:

The simple interest on a sum for 5 years is two­fifth of the sum. The rate of interest per annum is

A) 0.1 B) 0.08
C) 0.06 D) 0.04
 
Answer & Explanation Answer: B) 0.08

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Q:

The Gobi Desert is one of the largest deserts on Earth. A part of it lies in which of the following countries?

A) Australia B) Saudi Arabia
C) Mongolia D) Madagascar
 
Answer & Explanation Answer: C) Mongolia

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Filed Under: World Geography
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