Questions

Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

 

an arm and a leg

 

A) a large, possibly exorbitant, amount of money B) a highly motivated person can succeed even with few resources
C) one loves a person so much that one is willing to sacrifice his most precious things for them D) all children are equal for a mother. She can't sacrifice anyone.
 
Answer & Explanation Answer: A) a large, possibly exorbitant, amount of money

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Q:

At which place a joint military exercise named 'SAMPRITI' was held in November 2017 between Bangladesh and India?

 

 

A) Mizoram B) Madhya Pradesh
C) West Bengal   D) No option is correct
 
Answer & Explanation Answer: A) Mizoram

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Q:

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

A) 3% B) 10%
C) 2.50% D) 7%
 
Answer & Explanation Answer: B) 10%

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Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand B) Law of supply
C) Law of substitution D) Law of optimal choice
 
Answer & Explanation Answer: A) Law of demand

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Q:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: B) Law of variable proportions

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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:

In which of the following market forms, a firm does not exercise control over price?

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

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Q:

What is the number of atoms constituting a molecule known as?

A) Atomicity B) Atomic mass
C) Atomic number D) Isotopes
 
Answer & Explanation Answer: A) Atomicity

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