Questions

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.

 

This will explains the decision taken(1)/ to impose a blockade on the country in (2)/ the midst of a crisis. (3)/ No error. (4)

 

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

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

Business is for profits and the spirit of __________________ and driving high performance are encouraged in a ______________ environment. Also, in a democratic country like India, perceived _______________ in the distribution of earnings or wealth is crucial to hold the fabric of its society, be it the citizens __________ the country or employees of a corporation. The evolution of compensation practices in India over the ____________ five decades demonstrates the changes that have taken place.

 

India over the ____________ five decades

 

A) lastly B) lasting
C) at last D) last
 
Answer & Explanation Answer: D) last

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Q:

The collection of all possible combinations of the goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called the ____________ of the economy.

A) Resource Probability Set B) Production Probability Set
C) Resource Possibility Set D) Production Possibility Set
 
Answer & Explanation Answer: D) Production Possibility Set

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Q:

The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?

A) Macroeconomics B) Econometrics
C) Microeconomics D) Heterodox Economics
 
Answer & Explanation Answer: C) Microeconomics

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Q:

In economic equilibrium _____

A) supply is equal to the demand. B) the surplus is larger than the shortage.
C) elasticity of demand equals elasticity of supply D) price elasticity of demand is unity
 
Answer & Explanation Answer: A) supply is equal to the demand.

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Q:

Stagflation exists when _____

A) price indices and output both decrease. B) price indices increase but output decreases.
C) price indices and output both increase. D) price indices decrease but output increases.
 
Answer & Explanation Answer: B) price indices increase but output decreases.

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Q:

Demand is said to be elastic when the

A) change in quantity demanded is less than the change in price B) change in quantity demanded is greater than the change in price
C) percentage change in quantity demanded is greater than the percentage change in price D) percentage change in quantity demanded is less than the percentage change in price
 
Answer & Explanation Answer: B) change in quantity demanded is greater than the change in price

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Q:

Which of the following is a bisexual flower?

A) Cucumber B) Mustard
C) Watermelon D) Papaya
 
Answer & Explanation Answer: B) Mustard

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