Questions

Q:

Upon winning Wimbledon Women's Tennis Tournament 2016, Serena Williams equalled record 22 Grand Slam wins of

 

A) Martina Navratilova B) Steffi Graf
C) Martina Hingis D) Maria Sharapova
 
Answer & Explanation Answer: B) Steffi Graf

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Q:

Who among the following was NOT one of the 'Nine Gems' of Emperor Akbar's court?

A) Raja Todar Mal B) Fakir Aziao-Din
C) Abu'l-Fazil ibn Mubarak D) Osman Ali Khan
 
Answer & Explanation Answer: D) Osman Ali Khan

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Q:

__ was a Chinese Buddhist monk, who studied Buddhist Scriptures at Nalanda and is famous for his 17 year long trip to India between AD 627 to 643.

A) Megasthenes B) Hiuen Tsang
C) Fa-hien D) Al Beruni
 
Answer & Explanation Answer: B) Hiuen Tsang

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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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Q:

Goods for which demand move in the opposite direction of the income of the consumer are called?

A) Inferior goods B) Normal goods
C) Complementary goods D) Substitute goods
 
Answer & Explanation Answer: A) Inferior goods

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Q:

__________ is defined as the output per unit of variable input

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: D) Average product

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Q:

Calculate a country's GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.

A) $625 million B) $465 million
C) $475 million D) $635 million
 
Answer & Explanation Answer: A) $625 million

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Q:

A price floor is _____.

A) a maximum legal price B) a minimum legal price
C) the price where demand equals supply D) the price where elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: B) a minimum legal price

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