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Q:

Which  one  of  the  following  indices  is  now used  by  the  Reserve  Bank  of  India  to measure the rate of inflation in India?

A) NASDAQ Index B) BSE Index
C) Consumer Price Index D) Wholesale Price Index
 
Answer & Explanation Answer: C) Consumer Price Index

Explanation:

The  Wholesale  Price  Index  (WPI) was  main  index  for  measurement of  inflation  in  India  till  April  2014 when  RBI  adopted  new  Consumer Price   Index   (CPI)   as   the   key measure of inflation.

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Q:

If a perfectly competitive firm can increase its profits by increasing its output, then that firm's product's _____.

A) price exceeds its marginal costs B) price exceeds its average total costs
C) average variable costs exceed its average total costs D) fixed costs are zero
 
Answer & Explanation Answer: A) price exceeds its marginal costs

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Q:

Economics assumes that

A) people have unlimited desires but limited resources B) people have limited desires but unlimited resources
C) allocation of resources if not centrally planned will cause inefficiency D) people are emotional and make irrational decisions
 
Answer & Explanation Answer: A) people have unlimited desires but limited resources

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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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Q:

The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____.

A) Cyclical unemployment B) Frictional unemployment
C) Seasonal unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Seasonal unemployment

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Q:

In the following question, out of the given four alternatives, select the one which best expresses the meaning of the given word.

 

Importune

 

A) Appeal B) Important
C) Imply D) Purchase
 
Answer & Explanation Answer: A) Appeal

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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.


God has created all human beings and ______ them with certain qualities.

 

A) disapproved B)  rejected
C) vested D)  uncovered
 
Answer & Explanation Answer: C) vested

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Q:

Mecca Masjid, Hyderabad was completed by

A) Muhammad Quli Qutb Shah B) Jahangir
C) Qutb Shahi D) Aurangazeb
 
Answer & Explanation Answer: D) Aurangazeb

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