Q:

Which subatomic particle determines the identity of an element?

A) Electrons	B) Protons
C) Neutrons	D) All the above

Answer & Explanation Answer: B) Protons

Explanation:

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Q:

Which of the following is a tertiary activity?

A) Farming	B) Manufacturing
C) Dairying	D) Trading

Answer & Explanation Answer: D) Trading

Explanation:

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Q:

Bilateral monopoly situation is

A) when there are only two sellers of a product	B) when there are only two buyers of a product
C) when there is only one buyer and one seller of a product	D) when there are two buyers and two sellers of a product

Answer & Explanation Answer: C) when there is only one buyer and one seller of a product

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Q:

The existence of a parallel economy (black money) ___________.

A) makes economy more competitive	B) makes the monetary policies less effective
C) ensures a better distribution of income and wealth	D) ensures increasing productive investment

Answer & Explanation Answer: B) makes the monetary policies less effective

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Q:

Which one of the following statements is not correct?

A) When total utility is maximum, marginal utility is zero	B) When total utility is decreasing, marginal utility is negative
C) When total utility is increasing, marginal utility is positive	D) When total utility is maximum,marginal and average utility are equal to each other.

Answer & Explanation Answer: D) When total utility is maximum,marginal and average utility are equal to each other.

Explanation:

Total utility -It is total psychological satisfaction which a consumer derives from the consumption of a commodity is known as total utility

Marginal utility -It is anaddition made in total utility by consuming and additional unit of a commodity is known as marginal utility.

•When marginal utility is positive,total utility increases

•When marginal utility is zero,total utility is at maximum

•When marginal utility is negative,total utility decreases

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Q:

An increase of 1% per annum in the rate of growth of the money supply will increase inflation in the long run by _______.

A) Zero percent	B) One percent
C) 0.5 percent	D) More than one percent

Answer & Explanation Answer: B) One percent

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Q:

A hand made paper workshop can hire 8 craftsmen by paying them Rs 400 per person per day. The 9th craftsman demands Rs 450 per day. If this craftsman is hired then all other craftsmen must be paid Rs 450. The marginal resource (labour) cost of the 9th craftsman is

A) Rs 50	B) Rs 850
C) Rs 800	D) Rs 100

Answer & Explanation Answer: B) Rs 850

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Q:

Who is the winner of the third Indian Council for cultural Relations (ICCR) distinguished indologist award – 2017

A) Hiroshi Marui	B) Owen King
C) Larry Sloman	D) Peggy Whitson

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