Classical

December 2014 - Paper 3

41:  

Assertion (A): In long run under Perfect Competition all firms invariably get only normal profit.

Reason (R) : All firms incur minimum average cost and incur no selling cost due to absence of product differentiation.

A.

Assertion (A) and Reason (R) both are correct.

B.

Assertion (A) is correct, but Reason (R) is incorrect.

C.

Assertion (A) is incorrect, but Reason (R) is correct.

D.

Assertion (A) and Reason (R) both are incorrect.

 
 

Option: B

Explanation :


42:  

As per the South Asia Free Trade Agreement, 1993 of SAARC, the member countries have to bring their duties down to

A.

25 percent by 2006

B.

15 percent by 2006

C.

10 percent by 2007

D.

20 percent by 2007

 
 

Option: D

Explanation :


43:  

HRD as a total system includes the following major sub-systems :

1. Performance Appraisal

2. Career Planning

3. Role Analysis

4. ABC Analysis

5. Rewards

A.

1, 2, 3, 4

B.

1, 2, 3, 5

C.

2. 3, 4, 5

D.

1, 3, 4, 5

 
 

Option: B

Explanation :


44:  

Which of the following are the outcomes of the Sixth Ministerial Conference of WTO which was held at Hong Kong in December 2005?

Select the correct combination :

(i) Resolve to complete the Doha Work Programme fully and to conclude negotiations in 2006.

(ii) Amendments to TRIPS agreement reaffirmed to address public health concerns of developing countries.

(iii) To continue export subsidies in agriculture upto 2018.

(iv) Duty free, quota free market access for all LDC's products to all developed countries.

A.

(i),(ii) and (iv)

B.

(i), (ii), (iii) and (iv)

C.

(i) and (iii) only

D.

(ii) and (iv) only

 
 

Option: C

Explanation :


45:  

Minimum Alternate Tax (MAT) is imposed on

 

A.

All companies

B.

Public Limited Companies only

C.

Private Limited Companies only

D.

Partnership Firms and Companies

 
 

Option: A

Explanation :




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