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Q:

Who is the only Indian economist to have won the Nobel prize?

A) Avinash Dixit B) Amit Mishra
C) Amartya Sen D) Abhijit Banerjee
 
Answer & Explanation Answer: C) Amartya Sen

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Q:

Five statements are given below, labelled A, B, C, D and E, among these, four statements are in logical order and form a coherent paragraph/passage. From the given options, choose the option that does not fit into the theme of the passage.

A) This takes us back to John Stuart Mill, the great nineteenth-century economist and philosopher, who believed that nobody can be a good economist if he or she is just an economist. B) To be sure, most academic disciplines have become highly specialized since Mill’s day; and, since the collapse of theology,
C) no field of study has aimed to understand the human condition as a whole. D) The life insurance industry has been destroyed by high and uncertain inflation as well.
 
Answer & Explanation Answer: D) The life insurance industry has been destroyed by high and uncertain inflation as well.

Explanation:

All statements except ‘D’ are based on the economists versus the economy, while sentence D talks about 'The Destructive Power of Inflation'.

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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:

The State Financial Corporations have given assistance mainly to develop___________.

A) agriculture farms B) cottage industries
C) medium and small-scale industries D) large scale industries
 
Answer & Explanation Answer: C) medium and small-scale industries

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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:

Which is the 1st country to recognise Pfizer-bioNtech's coronavirus vaccine?

A) Russia B) Britain
C) Australia D) India
 
Answer & Explanation Answer: B) Britain

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Q:

In 2013, the first woman to be elected as the President of South Korea is

A) Park Young-sun B) Yuk Young-soo
C) Park Geun-hye D) Sim Sang-jung
 
Answer & Explanation Answer: C) Park Geun-hye

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Q:

Which Oil company has successfully conducted a 'Proof of Concept' feasibility study on 'Zero-emission electric mobility'?

A) Bharat Petroleum Corporation Ltd (BPCL) B) Oil India Ltd (OIL)
C) Indian Oil Corporation Ltd (IOCL) D) Reliance Industries Ltd (RIL)
 
Answer & Explanation Answer: C) Indian Oil Corporation Ltd (IOCL)

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