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46:  
Assertion (A). IBRD was created to provide long term finance.
Reason (R). IMP was created to solve short term balance of payment problem of member contries
Codes:
A.
If both A and R are true and R is the correct explanation of A
B.
If both A and R are true but R isNot the correct explanation of A
C.

If A is true but R is false
D.

If A is false but R is true
 
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Option: B

Explanation :

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47:  
Assertion (A). A monopolist enjoys considerable power to manipulate the price of his
product.
Reason (R). The monopoly power of the monopolist is measured by the excess of price over marginal cost
Codes:
A.
If both A and R are true and R is the correct explanation of A.
B.
If both A and Rare true but Ris Not the correct explanation of A
C.

If A is true but R is false
D.

If A is false but R is true
 
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Option: B

Explanation :

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