Questions

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.

 

To impose costs on one of the parties at the end of a ________________ litigation is common; it is meant, among other things, to act as a ___________________ against litigants abusing the process and the system of the law. But to seek pre-deposits with a view to prioritising a certain kind of case over another, by __________________ early dates of hearing to those that are capable of paying huge ___________ of money, is simply staggering. It reinforces a scheme of classism that ought to have no place in any court of law, let ______________ the apex court of the land.

 

To impose costs on one of the parties at the end of a ________________ litigation is common

 

A) chronic B) protracted
C) perpetual D) infinite
 
Answer & Explanation Answer: B) protracted

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Q:

In the Modern Periodic Table elements present in the same period will have the same

A) atomic weight B) number of shells
C) atomic number D) valence electrons
 
Answer & Explanation Answer: B) number of shells

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Q:

Lorenz curve shows

A) Inflation B) Unemployment
C) Income distribution D) Poverty
 
Answer & Explanation Answer: C) Income distribution

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Q:

The market for sugar is in equilibrium. If the supply of sugar increases, the equilibrium price of sugar will ________ and the equilibrium quantity will _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: D) decrease; increase

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Q:

What is an octroi ?

A) Tax B) Tax collection centre
C) Tax processing centre D) Tax information centre
 
Answer & Explanation Answer: A) Tax

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Q:

An increase in the growth rate of the nominal money supply results in

A) Lower rate of inflation B) Higher rate of inflation
C) Lower interest rates D) Currency appreciation
 
Answer & Explanation Answer: B) Higher rate of inflation

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Q:

Calculate the economic profit for a firm if its total revenues are Rs 180 crores, explicit costs are Rs 95 crores, and implicit costs are Rs 25 crores.

A) Rs 110 crores B) Rs 300 crores
C) Rs 60 crores D) Rs 250 crores
 
Answer & Explanation Answer: C) Rs 60 crores

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Q:

Under GST regime, in ‘Composition Scheme’, taxpayers have to fill returns ______.

A) Monthly B) Half-yearly
C) Quarterly D) Bi-Monthly
 
Answer & Explanation Answer: C) Quarterly

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