Q:

Irfaan loves black coffee. A roadside stall selling a cup of black coffee at Rs. 120, offered 25% discount to Irfaan. If Irfaan was willing to pay even Rs. 200 for this cup of black coffee, Irfaan's consumer surplus is

A) 90	B) 80
C) 30	D) 110

Answer & Explanation Answer: D) 110

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Q:

Which of the following statements is incorrect, if resources were unlimited?

A) there would still be scarcity and opportunity costs	B) there would still be scarcity but no opportunity costs
C) there would be no scarcity, but there would be opportunity costs.	D) there would neither be scarcity nor opportunity costs

Answer & Explanation Answer: C) there would be no scarcity, but there would be opportunity costs.

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Q:

Deindustrialisation means

A) uprooting of people from agriculture and planting them in industries	B) uprooting of people from agriculture and planting them in industries
C) a deliberate effort to compel the existing industries to shut down	D) a deliberate effort to promote the new industries

Answer & Explanation Answer: B) uprooting of people from agriculture and planting them in industries

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Q:

Recession is ___________.

A) reduction in production and employment for want of sufficient demand for goods	B) rise in the cost of production, especially because of wage increase
C) increase in money supply without a matching increase in production	D) No option is correct

Answer & Explanation Answer: A) reduction in production and employment for want of sufficient demand for goods

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Q:

In which of the following activities is work NOT done?

A) Ashwin is standing on the platform	B) Ashwin is running
C) Ashwin is walking	D) Ashwin is climbing a bus

Answer & Explanation Answer: A) Ashwin is standing on the platform

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Q:

The Center for Medicare & Medicaid Services (CMS), a federal agency in USA has an Indian as its current administrator under the Trump regime. Who is she?

A) Pramila Jayapal	B) Rachel Paulose
C) Aruna Miller	D) Seema Verma

Answer & Explanation Answer: D) Seema Verma

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Q:

In April 2017, the announcement was made to change the Base year for GDP Calculation. The new Base year will be ______.

A) 2011-12	B) 2015-16
C) 2017-18	D) 2016-17

Answer & Explanation Answer: C) 2017-18

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Q:

What is the amount of work done when a body moves under a force of 1 N at a distance of 1 meter in the direction of the force?

A) 1 Joule	B) 0.01 Joules
C) 100 Joules	D) 10 Joules

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