Questions

Q:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: B) Law of variable proportions

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

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

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Q:

'Group of Monuments' at Mahabalipuram one of the 'UNESCO World Heritage Site' founded by the Pallava Kings is in ____ district of ____.

A) Thanjavur, Tamil Nadu B) Kancheepuram, Tamil Nadu
C) Sivagangai, Tamil Nadu D) Nilgiris, Tamil Nadu
 
Answer & Explanation Answer: B) Kancheepuram, Tamil Nadu

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Q:

For the buying and selling of precious metals such as Goldand Silver, the market established is termed as ________ .

A) Capital Market B) Money Market
C) Bullion Market D) wholesale cash market
 
Answer & Explanation Answer: C) Bullion Market

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Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

A hand made paper workshop can hire 8 craftsmen by paying them Rs 400 per person per day. The 9th craftsman demands Rs 450 per day. If this craftsman is hired then all other craftsmen must be paid Rs 450. The marginal resource (labour) cost of the 9th craftsman is

A) Rs 50 B) Rs 850
C) Rs 800 D) Rs 100
 
Answer & Explanation Answer: B) Rs 850

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Q:

Which of the following is a temple built out of marble by Vimal Shah?

A) The Dilwara Temple B) Brihadeeshwara temple
C) Omkareshwar temple D) Ranakpur Adinath temple
 
Answer & Explanation Answer: A) The Dilwara Temple

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Q:

Find the odd word/letters/number pair from the given alternatives.

A) JKLM B) NOPQ
C) RSTU D) VWXZ
 
Answer & Explanation Answer: D) VWXZ

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