Q:

What is C12H22O11 also known as

A) Sand	B) Sugar
C) Salt	D) Clay

Answer & Explanation Answer: B) Sugar

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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:

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:

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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Q:

What was the Gross Domestic Product (GDP) for India in 2016-17 Financial Year?

A) 6.10%	B) 7.10%
C) 8.10%	D) 6.70%

Answer & Explanation Answer: B) 7.10%

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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:

"Sunrise Industries” are industries _____________

A) which are well developed and have ample scope for further development	B) which improve export performance of the country
C) which small-scale industries	D) which have high growth potential and meet further requirements of the economy

Answer & Explanation Answer: D) which have high growth potential and meet further requirements of the economy

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Q:

Intestinal bacteria synthesizes which of the following in the human body?

A) Vitamin K	B) Proteins
C) Fats	D) Vitamin D

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