Questions

Q:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic B) indifferent
C) market demand D) diminishing
 
Answer & Explanation Answer: C) market demand

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Q:

­ Inflation exists when

A) there is general increase in the prices over time. B) there are periodic decreases in the price level.
C) there are continuous increases in the output level over time. D) there is rise in the purchasing value of money.
 
Answer & Explanation Answer: A) there is general increase in the prices over time.

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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:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

It is necessary, then, to keep our ____________ acts under some surveillance of attention, to pass them in review for inspection every now and _________, that we may discover possible modifications which will make them more serviceable. We need to be __________, constantly to find out better ways of doing things. Habit takes care of our standing, walking, sitting; but how many of us could _________ improve his poise and carriage if he would? Our speech has become largely automatic, but no doubt all of us might remove _____________ of enunciation, pronunciation or stress from our speaking.

 

every now and _________, that we may

 

A) than B) then  
C) that   D) this
 
Answer & Explanation Answer: B) then  

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.


In a dynamic society everything is provided for by law and only a few things are __________ to politicians. The universe is governed ________ law. The inverse square law __________ the earth in its orbit and the law of atomic fusion keeps the sun shining ________ the whole earth. Likewise, the law should govern a nation where the judge, the police and the civil servant dispense ___________ to the citizen.


servant dispense ___________ to the citizen.

 

A) justify B) justly
C) justice D) justifies
 
Answer & Explanation Answer: C) justice

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 


The result is that the impact of humanities and liberal arts on _____________ action and day-to-day activities seems to be distinctly on the wane. ______________ and conventional approaches of teaching coupled with stasis that makes them traverse the __________ beaten path of course curricula isn’t helping society see the relevance of humanities and social science ____________ a technology-driven, changing world. The approach inevitably will be nuanced and there will be a need to weak the course content and fine-tune it to come ____________ with newer products to stay relevant and act as a facilitator to business and industry.

 

and liberal arts on _____________ action and day-to-day

 

A) humane B) humanly
C) human D)  humanity
 
Answer & Explanation Answer: C) human

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

Business is for profits and the spirit of __________________ and driving high performance are encouraged in a ______________ environment. Also, in a democratic country like India, perceived _______________ in the distribution of earnings or wealth is crucial to hold the fabric of its society, be it the citizens __________ the country or employees of a corporation. The evolution of compensation practices in India over the ____________ five decades demonstrates the changes that have taken place.

 

India, perceived _______________ in the distribution

 

A) duty B) fairness
C) faith D) inequity
 
Answer & Explanation Answer: B) fairness

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Q:

‘Capital gains’ refers to goods which

A) serve as a source of raising further capital B) help in the further production of goods
C) directly go into the satisfaction of human wants D) find multiple uses
 
Answer & Explanation Answer: B) help in the further production of goods

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