Q:

____________ is the relationship between the variable input and output, keeping all other inputs are held constant.

A) Total product	B) Average product
C) Isoquant	D) The Long Run

Answer & Explanation Answer: A) Total product

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Filed Under: Indian Economy
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Q:

Which of the following is considered a "diversified" investment?

A) Index Fund	B) Mutual Fund
C) Both of these	D) Neither of these

Answer & Explanation Answer: C) Both of these

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Q:

The Constituent Assembly adopted Indian national flag on

A) 22nd July 1947	B) 22nd August 1947
C) 22nd January 1948	D) 22nd October 1947

Answer & Explanation Answer: B) 22nd August 1947

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Q:

Sound CANNOT travel through

A) Air	B) Vacuum
C) Liquid	D) Solid

Answer & Explanation Answer: B) Vacuum

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Filed Under: Physics
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Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers	B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous.	D) Buyers and sellers in the market are assumed to have perfect information.

Answer & Explanation Answer: B) Average total costs continually decrease.

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Q:

___________ is an alternative way of representing the production function.

A) The Short Run	B) The Long Run
C) Isoquant	D) Average product

Answer & Explanation Answer: C) Isoquant

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Q:

The production possibilities curve illustrates the basic principle that

A) an economy's capacity to produce increases in proportion to its population size.	B) the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
C) an economy will automatically seek that level of output at which all of its resources are employed.	D) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.

Answer & Explanation Answer: D) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.

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Q:

___ are a mountain range that runs almost parallel to the western coast of the Indian peninsula, and is one of the eight "hottest hotspots" of biological diversity in the world sometimes called the "Great Escarpment of India".

A) Eastern Ghats	B) Western Ghats
C) Himalayas	D) Satpura Range

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