Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs	B) price = average profit
C) price = marginal costs = minimum average total costs	D) price = minimum average variable costs

Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.

A) Monopsony	B) Monopoly
C) Oligopoly	D) Monopolistic Competition

Answer & Explanation Answer: D) Monopolistic Competition

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Filed Under: Indian Economy
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Q:

A minimum wage _____.

A) is the price floor below which workers may not sell their labor	B) is set at a price below the equilibrium wage
C) creates a price ceiling below which the wage cannot legally go	D) decreases unemployment

Answer & Explanation Answer: A) is the price floor below which workers may not sell their labor

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Filed Under: Indian Economy
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Q:

The account receivable turnover measures

A) How often, on average receivables are received and collected during the period	B) How long it takes to sell accounts receivable to a factor
C) The relation of cash sales to credit sales	D) How long it takes to sell merchandise inventory

Answer & Explanation Answer: A) How often, on average receivables are received and collected during the period

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Filed Under: Indian Economy
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Q:

What is meant by space tourism?

A) Scientific space exploration	B) Space travel for leisure
C) Touring the world only by flight	D) Reaching out to Mars

Answer & Explanation Answer: B) Space travel for leisure

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Filed Under: General Science
Exam Prep: Bank Exams

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Q:

On 10 April 2017, Lok Sabha Passed the Motor Vehicles Act (Amendment) Bill, 2016. Under the new provisions, the compensation for death increased from Rs 25,000 to ______

A) Rs 2 lakh or more	B) Rs 5 lakh or more
C) Rs 10 lakh or more	D) Rs 15 lakh or more

Answer & Explanation Answer: A) Rs 2 lakh or more

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Filed Under: Indian Politics
Exam Prep: Bank Exams

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Q:

What is the present Personal Income Tax exemption limit for male individuals below 60 years of age & HUF (FY 2015-16)?

A) Rs. 2.5 lakhs	B) Rs. 3 lakhs
C) Rs. 1.5 lakhs	D) Rs. 4 lakhs

Answer & Explanation Answer: A) Rs. 2.5 lakhs

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Q:

At which of the following places the 5th Global Conference on Cyber Space (GCCS) was held on November 23-24, 2017?

A) London	B) New Delhi
C) Sanya	D) Tokyo

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