Business and Economics - General Knowledge Questions

1 .

The 'NAFTA' is an agreement signed by various countries creating a trilateral trade bloc. What does 'N' stand for in 'NAFTA' ?

A)

National

B)

North

C)

Normal

D)

Negotiable

Correct Answer : North

2 .

The Prevention of Money Laundering Act came into force in India during

A)

1998

B)

1999

C)

2001

D)

2005

Correct Answer : 2005

3 .

The Reserve repo operations of the RBI are meant to

A)

Absorb the liquidity of the system

B)

Infuse funds in the consumer market

C)

Inject liquidity in the system

D)

Inject olatility in the foreign exchange market

Correct Answer : Inject liquidity in the system

4 .

The imposition of a ceiling on a monopolist's price will affect his

A)

Equilibrium output and profits

B)

Average revenue in the short-run only

C)

Equilibrium output only

D)

Profits only

Correct Answer : Equilibrium output and profits

5 .

The Law of equi-marginal utility tells that if price of commodity falls

A)

Same units of it will be bought

B)

Less units of it will be marginal bought

C)

More units of it will be bought

D)

Nothing of it will be bought

Correct Answer : More units of it will be bought

6 .

In monopoly, the relationship between average revenue and marginal revenue curves is as follows

A)

Average revenue curve lies above the MR-curve

B)

Average revenue curve lies above the MR-curve

C)

AR curve coincides with the MR-curve

D)

Average revenue curve lies above the MR-curve

Correct Answer : Average revenue curve lies above the MR-curve

7 .

Marginal cost is less than the average cost when average cost falls with

A)

A decrease in output

B)

An increase in output

C)

Constant output

D)

None of the above

Correct Answer : An increase in output

8 .

Dabhol Power Project had been restarted on November 1, 2006 after a gap of about

A)

Four month

B)

Six month

C)

One year

D)

Two Years

Correct Answer : Four month

9 .

'De minimis' level is the minimal amount of trade-distorting subsidy under WTO arrangement. It has been classified under

A)

Ambar Box

B)

Green Box

C)

White Box

D)

Blue Box

Correct Answer : Ambar Box

10 .

Net export equals to

A)

Export x Imports

B)

Export + Imports

C)

Export - Imports

D)

Exports of services only

Correct Answer : Export - Imports

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