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Q:

Price elasticity of demand is generally

A) tends to be smaller in the short run than in the long run. B) tends to be smaller in the long run than in the short run.
C) tends to be unrelated to the length of time. D) tends to be larger in the short run than in the long run.
 
Answer & Explanation Answer: A) tends to be smaller in the short run than in the long run.

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Filed Under: Indian Economy
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Q:

Who decides the Minimum Support Price (MSP) for agricultural crops in India?

A) Ministry of Agriculture   B) NABARD
C) Commission on Agriculture Cost and Price (CACP) D) Ministry of Commerce
 
Answer & Explanation Answer: C) Commission on Agriculture Cost and Price (CACP)

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Q:

According to Newlands' law of Octaves, how many elements exist in nature?

A) 56 B) 66
C) 55 D) 65
 
Answer & Explanation Answer: A) 56

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Filed Under: Chemistry
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Q:

The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____.

A) Rs 5000 worth of consumer surplus B) Rs 8000 worth of consumer surplus
C) Rs 5000 worth of producer surplus D) Rs 8000 worth of producer surplus
 
Answer & Explanation Answer: C) Rs 5000 worth of producer surplus

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Q:

 On 2 January 2018, Parliament Passed Insolvency and Bankruptcy Code (IBC) amendment Bill, 2017. The Bill seeks to amend ______.

A) IBC, 2015 B) IBC, 2016
C) IBC, 2014 D) IBC, 2013
 
Answer & Explanation Answer: B) IBC, 2016

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Filed Under: Indian Politics
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Q:

If Money supply growth is faster than real GDP growth, it results in _____.

A) Inflation B) deflation
C) budget surplus D) budget deficit
 
Answer & Explanation Answer: A) Inflation

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Q:

Which of the following statements is true?

A) In grasshoppers and some insects, the male has only four sex chromosomes B) A male individual contains one X and two Y chromosomes
C) In human beings, there are 46 chromosomes, of which 42 (21 pairs) are autosomes D) In diploid organisms having separate sexes, a specific pair of chromosomes in each diploid cell determines the sex of the individual, they are called sex chromosomes.  
 
Answer & Explanation Answer: D) In diploid organisms having separate sexes, a specific pair of chromosomes in each diploid cell determines the sex of the individual, they are called sex chromosomes.  

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Filed Under: Biology
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Q:

Which of the following best defines free trade?

A) Imports are discouraged B) There are no restrictions on exports and imports  
C) There are no duties levied on export   D) Imported goods are made duty free  
 
Answer & Explanation Answer: B) There are no restrictions on exports and imports  

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