Questions

Q:

In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.

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

Explanation:
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Filed Under: Indian Economy
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Q:

In India, how much percent of GDP is the fiscal deficit target for the Financial Year 2017-18?

A) 4.20% B) 3.20%
C) 2.20% D) 4.00%
 
Answer & Explanation Answer: B) 3.20%

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Q:

Which one of the following events is not correctly matched with the year in which it happened?

A) Inauguration of the SWIFT system of electronic inter bank fund transfers worldwide—1985 B) Conclusion of the Uruguay Round of GATT—1994
C) Inauguration of the World Trade Organization—1995 D) Establishment of the first wholly electronic stock exchange (Nasdaq)—1971
 
Answer & Explanation Answer: A) Inauguration of the SWIFT system of electronic inter bank fund transfers worldwide—1985

Explanation:

•SWIFT was founded in the 1970s, based on the ambitious and innovative vision of creating a global financial messaging service, and a common language for international financial messaging.

•The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as "contracting parties".

•The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement.

•Founded by the National Association of Securities Dealers, the NASDAQ began trading on February 8, 1971, as the world's first electronic stock market.

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Filed Under: General Awareness
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Q:

Which is the largest fresh water lake in the world?

A) Lake victoria B) Lake Erie
C) Lake Superior D) Lake Ontario
 
Answer & Explanation Answer: C) Lake Superior

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Q:

The 'Go for Zero' policy, is associated with which country?

A) New Zealand B) Germany
C) United Kingdom D) Australia
 
Answer & Explanation Answer: D) Australia

Explanation:

The "Go for Zero" policy of Australia helped the country to bring down its COVID-19 cases. The Go for zero policy of Australia was proposed by a non-profit think tank Grattan Institute that advises the government. Under the policy besides expanding the testing of covid-19, Australia also increased contact tracing and mandatory isolation.

 

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Filed Under: General Awareness
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Q:

Which  one  of  the  following  constitutional authorities  inquires  and  decides  in  case  of doubts  and  disputes  arising  out  of  election of  the  President  and  Vice  President  Of India?

A) The Supreme Court of India B) The Election Commission of India
C) The Parliamentary Committee D) The High Court of Delhi
 
Answer & Explanation Answer: A) The Supreme Court of India

Explanation:

Supreme     Court     inquires     and decides   in   case   of   doubts   and disputes  arising  out  of  elections  of President    and    Vice    president.

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Filed Under: Indian Politics
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Q:

There are usually three Parliamentary sessions in India, viz, the Budget session, the Monsoon session and _______.

 

A) the Autumn session   B) the Summer session  
C) the Winter session   D) None of these  
 
Answer & Explanation Answer: C) the Winter session  

Explanation:
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Q:

All of the following are true about ecosystems except

A) they represent the lowest level of biological organization that is known B) there is a transfer of energy through the system and it is lost
C) the ultimate source of energy is the sun for nearly all known ecosystems  D) they contain both living and nonliving components
 
Answer & Explanation Answer: A) they represent the lowest level of biological organization that is known

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Filed Under: General Science
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