Questions

Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

Full employment is the level at which there is _____.

A) no frictional unemployment B) no cyclical unemployment
C) no structural unemployment D) no unemployment
 
Answer & Explanation Answer: B) no cyclical unemployment

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Q:

In May 2017, the Base year of All-Indian WPI (Wholesale Price Index) has been revised from 2004-05 to ______.

A) 2010-11 B) 2015-16
C) 2011-12 D) 2016-17
 
Answer & Explanation Answer: C) 2011-12

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Q:

Atomic mass of Carbon is 12 and that of Helium is 4. State which of the following statements is true for 1 mole of each of the elments?

A) 1 mole of Helium will contain 3 times more atoms than 1 mole of Carbon B) 1 mole of Carbon will contain the same number of atoms as present in 1 mole of Helium
C) 1 mole of Carbon will contain one-third the number of atoms present in 1 mole of Helium D) 1 mole of Carbon will contain 3 times more atoms than 1 mole of Helium
 
Answer & Explanation Answer: B) 1 mole of Carbon will contain the same number of atoms as present in 1 mole of Helium

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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select ‘No Error’.

Many of us have striving to produce (1)/ a blend of all cultures that seem (2)/ today to be in clash with one another. (3)/ No error (4)

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: A) 1

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Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

_______ is issued when the court finds that a particular office holder is not doing legal duty and thereby is infringing on the right of an individual.

A) Habeas Corpus B) Mandamus
C) Prohibition D) Quo Warranto
 
Answer & Explanation Answer: B) Mandamus

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Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity D) elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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