Questions

Q:

An indifference curve measures the same level of ___________

A) Output from two factors B) Satisfaction from two commodities
C) Satisfaction from Income and Capital D) Satisfaction from expenditure and savings
 
Answer & Explanation Answer: B) Satisfaction from two commodities

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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:

Expenses are recognized when

A) they are paid. B) they contribute to the production of revenue.
C) the invoice is received. D) they are billed by the supplier.
 
Answer & Explanation Answer: B) they contribute to the production of revenue.

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Q:

Which level does macroeconomics focus on?

A) Government B) Business
C) Personal D) None
 
Answer & Explanation Answer: A) Government

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Q:

HDI is an aggregate measure of progress in which of the three dimensions?

A) Health, Education, Income B) Food Security, Employment, Income
C) Agriculture, Industry, Services D) Height, Weight, Colour
 
Answer & Explanation Answer: A) Health, Education, Income

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Q:

An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y.

A) same B) higher
C) lower D) minimum
 
Answer & Explanation Answer: A) same

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Q:

In 2016, the State Bank of India launched a new product called 'SBI Exclusif'. What is the financial nature of this product?

A) Insurance B) Mutual Fund Offering
C) Wealth Management D) Recurring Deposit Scheme
 
Answer & Explanation Answer: C) Wealth Management

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Q:

Atomic mass of Carbon is 12 and that of Helium is 4. State which of the following statements is true for 1 mole of each of the elments?

A) 1 mole of Helium will contain 3 times more atoms than 1 mole of Carbon B) 1 mole of Carbon will contain the same number of atoms as present in 1 mole of Helium
C) 1 mole of Carbon will contain one-third the number of atoms present in 1 mole of Helium D) 1 mole of Carbon will contain 3 times more atoms than 1 mole of Helium
 
Answer & Explanation Answer: B) 1 mole of Carbon will contain the same number of atoms as present in 1 mole of Helium

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