Questions

Q:

When the demand for a good increases with an increase in income, such a good is called_______

A) Superior good B) Giffin good
C) Inferior good D) Normal good
 
Answer & Explanation Answer: A) Superior good

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Filed Under: Indian Economy
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Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

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Q:

The major ingredient of sweetened soft drink is

A) Carbonated water B) Hydrochloric acid
C) Phosphoric acid D) Caffeine
 
Answer & Explanation Answer: A) Carbonated water

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Filed Under: Chemistry
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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:

In a period when an economy is facing price rise, and along with that there is slowing down of economy activities, this is case of _________.

A) Deflation B) Stagflation
C) Recession D) Depression
 
Answer & Explanation Answer: B) Stagflation

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Q:

Five statements are given below, labelled A, B, C, D and E, among these, four statements are in logical order and form a coherent paragraph/passage. From the given options, choose the option that does not fit into the theme of the passage.

A) This takes us back to John Stuart Mill, the great nineteenth-century economist and philosopher, who believed that nobody can be a good economist if he or she is just an economist. B) To be sure, most academic disciplines have become highly specialized since Mill’s day; and, since the collapse of theology,
C) no field of study has aimed to understand the human condition as a whole. D) The life insurance industry has been destroyed by high and uncertain inflation as well.
 
Answer & Explanation Answer: D) The life insurance industry has been destroyed by high and uncertain inflation as well.

Explanation:

All statements except ‘D’ are based on the economists versus the economy, while sentence D talks about 'The Destructive Power of Inflation'.

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Filed Under: English
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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

 

Her trekking was met ______ obstacles.

 

A) with B) from
C) by D) of
 
Answer & Explanation Answer: A) with

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Filed Under: English
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Q:

Acceleration is

A) Inversely proportional to force B) Inversely proportional to mass
C) Directly proportional to mass D) Directly proportional to force
 
Answer & Explanation Answer: D) Directly proportional to force

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Filed Under: Physics
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