Q:

Black soil is also known by which of the following name ?

A) Khadar Soil	B) Bangar Soil
C) Alluivial Soil	D) Regur soil

Answer & Explanation Answer: D) Regur soil

Explanation:

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Q:

Which one of the following issues was included in the Indo-US Nuclear Agreement of 2007?

A) India has 'advance right to reprocess' US-origin safeguarded spent fuel.	B) India did not have the right to build a strategic fuel reserve with the help of the other supplier countries
C) India should not test a nuclear device	D) The US will impede with the growth of India's nuclear weapons programme.

Answer & Explanation Answer: C) India should not test a nuclear device

Explanation:

The deal would indirectly bring India under purview of NSG and US laws that would not allow India to conduct nuclear test in the future. The issue of nuclear test was later clarified as the moratorium on nuclear test was unilateral and voluntary and there was no pressure on India from outside.

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Q:

On 19 September 2017, Law Ministry approved Fugitive Economic Offenders Bill, 2017. The proposed bill will be applicable in cases where the value of offences is over ______.

A) Rs 100 crores	B) Rs 50 crores
C) Rs 25 crores	D) Rs 200 crores

Answer & Explanation Answer: A) Rs 100 crores

Explanation:

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Q:

When the demand for a good increases with an increase in income, such a good is called_______

A) Superior good	B) Giffin good
C) Inferior good	D) Normal good

Answer & Explanation Answer: A) Superior good

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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:

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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Q:

Acacia arabica is the scientific name of

A) Neem	B) Teak
C) Babhul	D) Pomegranate

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