Questions

Q:

In terms of economics, if it is possible to make someone better­off without making someone worse­off, then the situation is

A) Inefficient B) Efficient
C) Optimal D) Pareto­superior
 
Answer & Explanation Answer: D) Pareto­superior

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Q:

When the productive capacity of the economic system of state is inadequate to create sufficient number of jobs, it is called _______

A) seasonal unemployment B) structural unemployment  
C) disguised unemployment   D) cyclical unemployment
 
Answer & Explanation Answer: D) cyclical unemployment

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Q:

Stagflation is defined as

A) low inflation, low growth, low unemployment B) high inflation, low growth, high unemployment
C) high inflation, high growth, high unemployment D) low inflation, high growth, low unemployment
 
Answer & Explanation Answer: B) high inflation, low growth, high unemployment

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Q:

If a person's income increases from Rs 20 lakhs per year to Rs 24 lakhs per year and tax increases from Rs 3,50,000 to Rs 4,00,000 the marginal tax rate is

A) 8 percent B) 12.5 percent
C) 10 percent D) 15 percent
 
Answer & Explanation Answer: B) 12.5 percent

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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.


_____________ who argue in this way support their case by pointing to the lack of a general consensus of opinion which obtains in many parts of the field which the philosopher regards as his own; and also by ____________ out that, even within this field, there is a growing tendency ___________ the part of certain sciences to separate themselves from philosophy and _____________ independent. Thus the psychologist and the logician are sometimes very anxious to have it understood that they belong among the scientists and ___________ among the philosophers.


field, there is a growing tendency ___________ the part of certain sciences to separate

A) in B) on
C) of D) for
 
Answer & Explanation Answer: B) on

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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.
Since my father was an _____________ from India, he brought his Indian culture and traditions to the United States with him.

A) emigrant B) immigrant
C) native D) citizen
 
Answer & Explanation Answer: B) immigrant

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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.

After missing four days of school due to a _________ of flu, Babita struggled to make up for her missing work.

A) bout B) about
C) amount D) array
 
Answer & Explanation Answer: A) bout

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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.

The scenario _________________ dramatically today. We have the ___________________ of powerful Internet monopolies that are much bigger ________________ the telcos. Not surprisingly, these companies now see the _______________ of monopoly. They would like to combine with telcos to create monopolies for their platforms, ensuring that they control the future of the Internet and freeze their competition ____________.


Not surprisingly, these companies now see the _______________ of monopoly.

A) virtues B) respectability
C) trust D) innocence
 
Answer & Explanation Answer: A) virtues

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