Questions

Q:

A minimum wage _____.

A) is the price floor below which workers may not sell their labor B) is set at a price below the equilibrium wage
C) creates a price ceiling below which the wage cannot legally go D) decreases unemployment
 
Answer & Explanation Answer: A) is the price floor below which workers may not sell their labor

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Q:

The market for sugar is in equilibrium. If the supply of sugar increases, the equilibrium price of sugar will ________ and the equilibrium quantity will _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: D) decrease; increase

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Q:

Which of the following best describes monetary policy?

A) Managing the economy by controlling the money supply B) Determining the design printed on the national currency
C) Regulating transactions in the currency exchange market D) Raising and lowering the foreign exchange rate
 
Answer & Explanation Answer: A) Managing the economy by controlling the money supply

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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:

Long run growth in GDP is determined by

A) Capital stocks B) Labour force
C) Both 1 & 2 D) None
 
Answer & Explanation Answer: C) Both 1 & 2

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Q:

The length and breadth of a rectangle are 15 cm and 8 cm respectively. Find its area (in cm2)

A) 240 B) 208
C) 416 D) 120
 
Answer & Explanation Answer: D) 120

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Q:

In a triangle ABC, AB = 8 cm, AC = 10 cm and ∠B = 90°, then the area of ΔABC is

A) 49 sq.cm B) 36 sq.cm
C) 25 sq.cm D) 24 sq.cm
 
Answer & Explanation Answer: D) 24 sq.cm

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Q:

If O is the centroid and AD, BE and CF are the three medians of Δ ABC with an area of 96 cm2 then the area of Δ BOD in cm2 is

A) 8 B) 12
C) 16 D) 24
 
Answer & Explanation Answer: C) 16

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