Questions

Q:

In which of the following case, law of demand fails?

A) Giffen goods B) Normal goods
C) Inferior goods D) Both Giffen and Inferior goods
 
Answer & Explanation Answer: A) Giffen goods

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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:

The number of days' sales uncollected is calculated by

A) Dividing accounts receivable by net sales and multiplying by 365. B) Dividing net sales by accounts receivable and multiplying by 365.
C) Dividing accounts receivable by net sales. D) Dividing net sales by accounts receivable.
 
Answer & Explanation Answer: A) Dividing accounts receivable by net sales and multiplying by 365.

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Q:

Which is the form of market where there is lack of competition?

A) Monopoly B) Oligopoly
C) Perfect competition D) Marketisation
 
Answer & Explanation Answer: A) Monopoly

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Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

 

Against the clock

 

A) One can't fight one's fate B) Work very fast to complete something within a deadline
C) Time will march on ceaselessly irrespective of what you do D) The person who manages time will be successful
 
Answer & Explanation Answer: B) Work very fast to complete something within a deadline

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

So, in asking you to consider the processes of reasoning we are ________ assuming that you never have reasoned--_________ the contrary we are fully aware that you in connection __________ every other person, have reasoned all your mature life. That is not the question. While everyone reasons, the fact is __________ true that the majority of persons reason incorrectly. Many persons reason ______________ lines far from correct and scientific, and suffer therefor and thereby.

 

that you in connection __________ every other person,

 

A) with B) of
C) for D) from
 
Answer & Explanation Answer: A) with

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Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

 

Back to the drawing board

 

A) To solve a problem one has to go back to the root cause B) An inventive person will find fresh ways to solve a problem
C) An idea has been unsuccessful and that a new one must be devised D) An artist is always happy if he gets a chance to go back to painting
 
Answer & Explanation Answer: C) An idea has been unsuccessful and that a new one must be devised

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Q:

In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

National integration means _____ all the people of the nation into a single whole. It is a _____ that bends together all people in one _____ bond no matter what their religion, caste, language or history may be. It is a _____ cementing force whereby all kinds of people live _____ peacefully and can identify themselves as a part and parcel of a nation.

National integration means _____ all the people of the nation into a single whole.

A) segregating B) combining
C) residing D) complying
 
Answer & Explanation Answer: B) combining

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