Questions

Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

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Q:

Goods for which demand move in the opposite direction of the income of the consumer are called?

A) Inferior goods B) Normal goods
C) Complementary goods D) Substitute goods
 
Answer & Explanation Answer: A) Inferior goods

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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:

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:

Rate of the growth of an economy is measured in terms of

A) National income B) Monthly family income
C) Number of people who have been lifted above the poverty line D) Industrial Development
 
Answer & Explanation Answer: A) National income

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Q:

In the following question, out of the given four alternatives, select the one which is opposite in meaning of the given word.

Thwart

A) Stop   B)  Hinder  
C) Balk   D) Assist
 
Answer & Explanation Answer: D) Assist

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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

Their is direct evidence that when learning (1)/ occurs, neuro-chemical communication between (2)/ neurons is facilitated and less input is required. (3)/ No error (4)

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: A) 1

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Q:

Which of the following statements is correct about the President of India ?

A) Addresses first session of Parliament after each General Election. B) Addresses first session of Parliament at the beginning of each year
C) Addresses every session of Parliament D) Never addresses Parliament
 
Answer & Explanation Answer: A) Addresses first session of Parliament after each General Election.

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