Questions

Q:

Economics assumes that

A) people have unlimited desires but limited resources B) people have limited desires but unlimited resources
C) allocation of resources if not centrally planned will cause inefficiency D) people are emotional and make irrational decisions
 
Answer & Explanation Answer: A) people have unlimited desires but limited resources

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Filed Under: Indian Economy
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Q:

In April 2017, N. K. Singh Committee recommended a fiscal deficit of how much percent of GDP by Financial Year 2022-23?

A) 2.50% B) 3.00%
C) 3.50% D) 4.00%
 
Answer & Explanation Answer: A) 2.50%

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Q:

How many union territories does India have as of June 2017?

A) 7 B) 6
C) 5 D) 4
 
Answer & Explanation Answer: A) 7

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Filed Under: Indian Geography
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Q:

Calculate a country's GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.

A) $625 million B) $465 million
C) $475 million D) $635 million
 
Answer & Explanation Answer: A) $625 million

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: A) increase; increase

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Q:

Which Asian city hosted the 2017 Men's Hockey Asia Cup?

A) Dhaka B) Teheran
C) Tokyo D) Singapore
 
Answer & Explanation Answer: A) Dhaka

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Q:

The game of football is also referred to as ___.

A) Rugby B) Poker
C) Soccer D) Ping-Pong
 
Answer & Explanation Answer: C) Soccer

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Q:

Mechanical energy is the sum of

A) kinetic energy + heat energy B) kinetic energy + potential energy
C) potential energy + heat energy D) chemical energy + electrical energy
 
Answer & Explanation Answer: B) kinetic energy + potential energy

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