Questions

Q:

In the presence of which of the following, does the President takes Oath?

A) Vice-­President B) Lok Sabha Speaker
C) Chief Justice of India D) Attorney General
 
Answer & Explanation Answer: C) Chief Justice of India

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Q:

Article 12 to Article 35 of Indian Constitution mainly deals with Fundamental Rights, given in ______ of Indian Constitution.

 

A) Part I B) Part II
C) Part III   D) Part IV
 
Answer & Explanation Answer: C) Part III  

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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'.

 

He built the theatre as a tribute to his rootings (1)/ and the thought of it outlasting him, (2)/ would surely have given him the greatest joy. (3)/ No error. (4)

 

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

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Q:

The goods which people consume more, when their price rises are called _______.

A) Essential goods B) Capital goods
C) Veblen goods D) Giffen goods
 
Answer & Explanation Answer: D) Giffen goods

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Q:

The collection of all possible combinations of the goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called the ____________ of the economy.

A) Resource Probability Set B) Production Probability Set
C) Resource Possibility Set D) Production Possibility Set
 
Answer & Explanation Answer: D) Production Possibility Set

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Q:

If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is

A) 12.50% B) 8%
C) 10% D) 15%
 
Answer & Explanation Answer: A) 12.50%

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Q:

What situation would result if Government expenditure exceeds the Government revenue on Current Account?

A) Deficit budgeting B) Zero­based budgeting
C) Performance­based budgeting D) Surplus budgeting
 
Answer & Explanation Answer: A) Deficit budgeting

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Q:

If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is ­3.2 findmP1?

A) Rs 85 B) Rs 80
C) D) Rs 95
 
Answer & Explanation Answer: B) Rs 80

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