Q:

In perfect competition _____.

A) Products can be similar or different	B) Producer can control price by controlling production
C) Demand curve is perfectly elastic	D) All firms make economic profit in the long run

Answer & Explanation Answer: C) Demand curve is perfectly elastic

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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:

Calculate the accounting profits for a firm, if its economic profits for the year are Rs 60 crores, total implicit costs are Rs 18.5 crores and total explicit costs are Rs 35 crores

A) Rs 113.5 crores	B) Rs 43.5 crores
C) Rs 76.5 crores	D) Rs 78.5 crores

Answer & Explanation Answer: D) Rs 78.5 crores

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Q:

The demand curve _____.

A) shows that as the price of a good increases, demand for the good will increase	B) shows that as the price of a good increases, demand for the good will decrease
C) has a positive gradient	D) indicates that there is a direct relationship between quantity demanded and price

Answer & Explanation Answer: B) shows that as the price of a good increases, demand for the good will decrease

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Q:

Gandhiji's 'Satyagraha' meant an attachment to the following two elements

A) Knowledge and religion	B) Truth and non-violence
C) Truth and chastity	D) Love of motherland and hate for colonial masters

Answer & Explanation Answer: B) Truth and non-violence

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Filed Under: Indian History

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Q:

Who along with Bhagat Singh was the main accused in Assembly Bomb Case?

A) Batukeshwar Dutt	B) Sukhdev Thapar
C) Asaf Ali	D) Ram Prasad Bismil

Answer & Explanation Answer: A) Batukeshwar Dutt

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Q:

Who is the author of "I Too Had A Love Story"?

A) Jhumpa Lahiri	B) Amish Tripathi
C) Ravinder Singh	D) Salman Rushdie

Answer & Explanation Answer: C) Ravinder Singh

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Filed Under: Books and Authors
Exam Prep: Bank Exams

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Q:

In the following question, out of the given four alternatives, select the one which best expresses the meaning of the given word.

Reminisce

A) Remember	B) Discover
C) Forget	D) Hang

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