Questions

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.

 

Starting late-2014, scientists of the National Aeronautics and Space Administration (NASA) working _______ satellite data tracking the rift found that the defect in the Larsen C was growing _________. By 2016 the crack became 70 miles long and 300 feet ________. By January 2017 it measured 109 miles in length and 1,500metres in breadth. On July 12, it broke. The broken shelf, now __________ official iceberg, was massive, indeed the ____________-ever such iceberg, weighing 1.1trillion tons and measuring 2,200 square miles.

 

shelf, now __________ official iceberg

 

A) a   B) an  
C) the D) once
 
Answer & Explanation Answer: B) an  

Explanation:
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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:

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 difference between exports and imports is called-? 

A) assets and liabilities  B) balance of payment 
C) GDP  D) balance of trade 
 
Answer & Explanation Answer: D) balance of trade 

Explanation:

The difference between exports and imports is called the balance of trade. If imports are greater than exports, it is sometimes called an unfavourable balance of trade. If exports exceed imports, it is sometimes called a favourable balance of trade.

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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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Q:

If demand curve for racing cycles is D = 80200 ­ 13P and supply curve is S = 6200 + 12P, What is the equilibrium Quantity?

A) 2960 units B) 31220 units
C) 8750 units D) 41720 units
 
Answer & Explanation Answer: D) 41720 units

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Q:

In 2015, the nominal rate of interest in a country was 8% and the inflation rate then was 2.5%. So real rate of interest in 2015 was

A) 3.2 percent B) 10.5 percent
C) 8 percent D) 5.5 percent
 
Answer & Explanation Answer: D) 5.5 percent

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