Questions

Q:

__________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling.

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

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Q:

For a price taking firm, average revenue is ______ market price.

A) half of B) equal to
C) double of D) less than
 
Answer & Explanation Answer: B) equal to

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Q:

A manufacturer faces price elasticity of demand of a ­1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.

A) 5.15 percent B) 7.65 percent
C) 8 percent D) 5.12 percent
 
Answer & Explanation Answer: C) 8 percent

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Q:

___________________________ is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India.

A) Provident Fund B) Life Insurance Policies
C) National Saving Certificate D) Long term government bonds
 
Answer & Explanation Answer: C) National Saving Certificate

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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.

 

Society and individuals will evolve __________ changing times. Technology will continue to play an increasingly ____________ role in our lives in the years to come. Passing the blame on to technology is the easiest thing to do, but how we _____________ to use technology is an individual decision. In an attempt to be connected with the world _______ large, are we getting disconnected with the people who mean the most to us? This is a question worth pondering _________.

 

but how we _____________ to use technology

 

A) choice   B) choose  
C) choices   D) chosen
 
Answer & Explanation Answer: B) choose  

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Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

 

Data of seizure of tiger body parts reveal that of the 14 cases, five (was reported) inside the reserves.

 

A) was reports   B)  were reported  
C)  is reported   D) no improvement
 
Answer & Explanation Answer: B)  were reported  

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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.


In a dynamic society everything is provided for by law and only a few things are __________ to politicians. The universe is governed ________ law. The inverse square law __________ the earth in its orbit and the law of atomic fusion keeps the sun shining ________ the whole earth. Likewise, the law should govern a nation where the judge, the police and the civil servant dispense ___________ to the citizen.


servant dispense ___________ to the citizen.

 

A) justify B) justly
C) justice D) justifies
 
Answer & Explanation Answer: C) justice

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Q:

Which Union Ministry is to set up a National Faceless Penalty Centre?

A) Ministry of MSME B) Ministry of Finance
C) Ministry of Defence D) Ministry of Commerce and Industry
 
Answer & Explanation Answer: B) Ministry of Finance

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