Questions

Q:

If quantity of good X demanded increases from 2300 to 2700 when price of good Y increases from Rs. 45 to Rs. 55, find Arc Cross elasticity of demand?

A) 4 B) 1.25
C) 0.25 D) 0.8
 
Answer & Explanation Answer: D) 0.8

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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:

As per the data released by the Income­Tax Department in December 2017, how much percent of total population paid income tax in the assessment year 2015­16?

A) 1.7 B) 5.7
C) 9.7 D) 11.7
 
Answer & Explanation Answer: A) 1.7

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Q:

If a perfectly competitive firm can increase its profits by increasing its output, then that firm's product's _____.

A) price exceeds its marginal costs B) price exceeds its average total costs
C) average variable costs exceed its average total costs D) fixed costs are zero
 
Answer & Explanation Answer: A) price exceeds its marginal costs

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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:

The pH of a solution, whose hydrogen ion concentration is 1 x 10 mole per litre, will be ____.

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

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Q:

Galvanization a process to prevent rusting involves use of ___ coating to steel or iron.

A) Nickel B) Magnesium
C) Copper D) Zinc
 
Answer & Explanation Answer: D) Zinc

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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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