CA Foundation May 2026 Suggested Answers Paper 4 Business Economics

FOR CA FOUNDATION EXAM PREPARATION

CA Foundation 2026
Suggested Answers ·
Paper 4 Business
Economics
EXAM YEAR TYPE

CA Foundation 2026 Suggested Answers
SUBJECT DATE

Paper 4 Business Economics May 2026

Notes · Sample Papers · Previous Year Papers · Mock Tests

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PAPER – 4: BUSINESS ECONOMICS
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Time: 2 Hours Marks: 100
1. aArticles of prestige value used by rich people as status symbol for g
g l increasing their social prestige and/or for displaying wealth is known as: a
a
(A) Speculative goods.
(B) Conspicuous goods
(C) Giffen goods
(D) Inferior goods
2. For a household suppose the income elasticity of a commodity is arrived
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at 0.5; what can be assumed about the nature of the good?
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(A) It is a luxurious good
(B)
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It is an inferior goods
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(C) It has a zero incomeg elasticity
(D) It is a normal good and fulfils a necessity
3. Which of the following is not a set of complementary goods?
(A) Car & Petrol
(B) Electricity & Electrical Gadgets
(C) Bread & Jam

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(D) Blazer & Jacket
m Find the coefficient of price elasticity when the price of a. product
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m from 10
erises
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decreases from ` 10 to ` 6, and the quantity demanded

las units to 20 units.
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ag (A) 1.5
(B) 0.5
(C) 3.5

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FOUNDATION EXAMINATION: MAY 2026

(D) -2.5
5. When the price of sugar is ` 60 per kg, its demand is 10 Kgs.
Subsequently, if the price of coffee declines from ` 500 per kg to ` 450
per Kg, the usage of sugar rises from 10 kgs to 15 kgs. Calculate the
cross price elasticity.
(A) -5
(B) 10
(C) -2.5
(D) 2.5
6. According to the theory of production and cost in business economics,
cost can be of the following types.
(A) Fixed and variable
(B) Fixed and semi variable
(C) Fixed, variable and semi variable
(D) Variable and semi variable
7. To make the job contents interesting and challenging is a ________
objective of an organization.
(A) Social
(B) Organic
(C) National
(D) Human
8. Which factor of production is that part of the wealth of an individual or
community, which may be used for further production of wealth?
(A) Land
(B) Labour
(C) Capital
(D) Entrepreneur

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9. The maximum amount of output that can be produced with given
quantities of inputs, under a given state of technical knowledge, is
termed as:
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(A) Demand Function

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(B)
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Production Function
e Supply Function la s
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(C)
a g
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(D) Investment Function
a firm decides to change its product line, replace worn-out
machinery, buy a new production facility, or acquire a new set of clients,
it will have to incur______.
(A) Sunk costs
(B) Incremental costs

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(C) Opportunity costs
(D) Implicit costs
c. o
s emvariable cost in the short run?
11. Which of the following represents
(A) Factory rent
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(B) Wages for factory alabour
(C) Accountant's salary
(D) Factory insurance premium
12. Which from the following forms essential elements of a market?
(I) Buyers and sellers

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(II) Product or service

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(III) Knowledge of market conditions

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(IV) Multiple prices for a product or service at a given time

las (A) (I), (II) and (III)
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(C) (I), (II) and (IV)
(D) Both (III) and (IV)

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FOUNDATION EXAMINATION: MAY 2026

13. The three stages of the law of variable proportion can be referred to as
the stages of
(A) Increasing returns, optimum returns & nil returns
(B) Positive returns, diminishing returns & nil returns
(C) Increasing returns, diminishing returns & negative returns
(D) Negative returns, nil returns & positive returns
14. Complete the statement by selecting the correct option. A firm earns
zero economic profit_______________.
(A) If price = Minimum ATC
(B) If price > Minimum ATC
(C) If price < Minimum ATC
(D) If price < Average Variable Cost
15. When goods are sold, based on product differentiation, it is known
as___________.
(A) Collusive oligopoly
(B) Imperfect oligopoly
(C) Partial oligopoly
(D) Syndicated oligopoly
16. Choose the correct statement about Duopoly from the following
statements.
(A) It is a special case for the Oligopoly market structure
(B) It is a special case for the Monopsony market structure
(C) It is a special case for the Monopoly market structure
(D) It is a special case for the Imperfect Competition
17. A group of firms which explicitly collude to coordinate their activities in
industries where there are a few firms, all of which are similar in size,
may be referred to as _____.
(A) Perfect competition

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(B) Cartel
(C) Oligopsony
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(D)
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Bilateral monopoly
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18.
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The Theory of Games' which provided a different approach to the
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analysis of strategic behaviour of the oligopolists under uncertainty was
la
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developed by _________.
a g
ag (A) Alfred Marshal
(B) Adam Smith
(C) Von Neumann & Oskar Morgentern
(D) Paul A Sweezy
19. Assume the cost of producing 500 units to be ` 25,000. Investment of
the entrepreneur in his business is ` 1,50,000. Rate of normal market

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return is 10%. The selling price at which the firm will earn supernormal

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profit is:

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(A) ` 78

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(B) ` 80
(C) ` 82 a
(D) ` 76
20. Which phase of business cycle is charaterised by a rapid rise in output
prices leading to increased cost of living and greater pressure on fixed
income earners ?
(A) Contraction

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(B) Prosperity

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(C) Depression

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examples of which type of economic indicators? a
21. Unemployment, corporate profit and labour cost per unit of output are

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(A) Coincident
(B) Lagging

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FOUNDATION EXAMINATION: MAY 2026

(C) Concurrent
(D) Leading
22. The difference between market price and factor cost for an aggregate
like GDP is:
(A) Net exports (excluding subsidies)
(B) Net indirect taxes (indirect taxes minus subsidies)
(C) Depreciation
(D) Net factor income from abroad
23. Which of the following is not an internal cause of business cycle?
(A) Natural factors
(B) Psychological factors
(C) Variation in Government spending
(D) Macroeconomic policies
24. Which of the following is not an example of coincident economic
indicator?
(A) Changes in stock prices
(B) Inflation
(C) Personal income
(D) Industrial production
25. There is an increase in the national income by ` 2,000 crores when there
is an increase in investments by ` 1,600 crores. Calculate the marginal
propensity to consume.
(A) 0.80
(B) 0.50
(C) 0.20
(D) 0.40

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Use the following information for Q 26 and Q 27

Income (Y) in crore Consumption (C) in crore
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0 100
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c. o 100 150
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s
225

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300 300
400 375
500 400

26. Calculate the marginal propensity to consume when the income changes
from ` 300 crores to ` 400 crores.
(A) 1.00
(B) 0.50
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(C) 0.75

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(D) 0.25
27.
l a s
Calculate the average propensity to save when the income is at
` 500 crores.
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(A) 0.80
(B) 1.00
(C) 0.25
(D) 0.20
28. Which of the following pair of components is common to all sector-

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models of the economy?

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(A) Government and household

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(B) Rest of the world and Government
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las (C) Household and firms (Business)
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ag (D) Firms (Business) and Government
29. Which of the following taxes does the State Government levy?
(A) Taxes on income

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FOUNDATION EXAMINATION: MAY 2026

(B) Taxes on vehicles
(C) Customs duty
(D) Security transaction tax
30. During which phase of the business cycle is expansionary fiscal policy
most appropriate?
(A) Stagflation
(B) Peak
(C) Expansion
(D) Contraction
31. Which of the following is not the responsibility of the Central
Government but is associated with the State Government?
(A) Foreign affairs
(B) Foreign trade and exchange management
(C) Police protection
(D) Money and banking
32. Surcharge on certain duties and taxes for the purpose of the Union, are
based on which of the following Articles of the Constitution?
(A) 271
(B) 269
(C) 293
(D) 268
33. Which of the following is not a criteria for distribution of central taxes
amongst states for the period 2021 to 2026?
(A) Area
(B) Population (2011)
(C) Forest & ecology
(D) Adult literacy

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34. Government spending that does not contribute to GDP because income
is only redistributed from one group of people to another, without any
direct contribution by the recipients is known as:
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(A) Revenue expenditure

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(B)
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Capital expenditure
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(C)
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Which of the following is the rate set by the Monetary Policy Framework
Agreement (MPFA) and is the maximum tolerable rate that RBI should
target to achieve price stability in India?
(A) Repo rate
(B) Inflation rate

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(C) MSF rate
(D) Reverse repo rate
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s em the required reserve ratio.
36. If the credit multiplier is 4, calculate
(A) 40%
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(B) 25% a
(C) 20%
(D) 60%
37. Controlling credit by not lending to selective industries or speculative
business is referred to as _____.

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(A) Moral suasion

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c. o (C) Selective credit control
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s em g l a
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(D) Open market operations

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a
38. If the money supply increases by ` 750 crores, when
of ` 250 crores, through the open market operations by the central bank
of the country. Calculate the money multiplier.

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FOUNDATION EXAMINATION: MAY 2026

(A) 2.00
(B) 0.33
(C) 3.00
(D) 0.50
39. Calculate the currency with the public from the under-mentioned data.
Circulation of rupee coins ` 25,550
Circulation of small coins ` 750
Notes in circulation ` 35,50,000
Cash on hands with banks ` 66,500
(A) ` 36,42,800
(B) ` 36,41,300
(C) ` 35,91,700
(D) ` 35,09,800
40. Which of the following is not an assumption of the Absolute Advantage
Theory in international trade?
(A) Trade between two countries
(B) Existence of transportation cost
(C) Labour being mobile within a country but immobile between
countries
(D) Two country and two commodity framework
41. Which form of tariff is a duty to bring the price of an imported
commodity upto the level of the domestic support price of the
commodity?
(A) Preferential tariff
(B) Bound tariff
(C) Applied tariff
(D) Variable tariff

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42. Which type of non-technical measure is adopted in international trade in
order to non-discriminatorily and temporarily limit imports of a product,
if its domestic industry is injured or threatened with serious injury
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caused by a sudden rise in imports?
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(A)
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Safeguard measures
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(B)

la(C) Government procurement policies a g
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43. Which form of tariff is determined based on the specific contents of the
imported goods?
(A) Specific tariff
(B) Ad valorem tariff

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(C) Mixed tariff
(D) Technical tariff
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44. Which of the following measures
s emimported,
are usually aimed at restricting the

originate from different g
quantity of goods that can
l a be irrespective of whether they

(A)
asources or from one particular supplier?
Government procurement policies
(B) Rules of origin
(C) Non automatic licencing and prohibitions
(D) Distribution restrictions
45. Interest rate liberalization and reduction in controls on banks in India by

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the Reserve Bank of India with regards to interest rates chargeable on

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loans and payable on deposits are closely associated with which of the
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following economic reforms:

s em (I) Fiscal reforms
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gla (II) Monetary reforms a
a (III) Capital market reforms
(IV) Financial sector reforms

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FOUNDATION EXAMINATION: MAY 2026

(A) Both (II) and (IV)
(B) Only (II)
(C) Only (1)
(D) Both (I) and (III)
46. Which of the following is a pan India electronic trading portal
networking existing APMC mandis to create an integrated national
market for agricultural commodities?
(A) E Amrit
(B) NDAP
(C) ENAM
(D) Niti Aayog
47. Which measure of the primary sector is designed to provide income
support to farmers in India?
(A) PM KISAN
(B) Paramparagat Kisan Vikas Yojana
(C) Fixation of minimum support price
(D) Pradhan Mantri Fasal Bima Yojana
48. Which of the following policies is focused at the empowerment of Micro,
Small and Medium enterprises?
(A) FAME India
(B) PM Gati Shakti National Master Plan
(C) Industrial Corridor Development Programme
(D) Udyami Bharat
49. Which of the following areas is related to macroeconomics?
(A) Consumer behaviour
(B) Factor pricing
(C) External value of currency
(D) Behaviour of firms

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50. Which of the following factors does not relate to the central economic
problem?

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(A) What to produce

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(B) How to produce

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(C) When
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to produce

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l a(D) For whom to produce
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a51.g 'Consumer Sovereignty' is a feature related to which of the following
economic system:
(A) Laissez Faire Economy
(B) Socialist Economy
(C) Mixed Economy
(D) Command Economy

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52. Mixed economy in the real world comprise of __________.

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(A) Only market
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gla individuals
(B) Both market and government
(C) Both market andaprivate
(D) Only government
53. "The right to work is guaranteed, but the choice of occupation gets
restricted."
Select the correct set of options which is related with the above
statement.

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(A) Absence of consumer choice, Capitalist economy

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(B) Absence of consumer choice, Socialist economy

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las (D) Right to private property, Socialist economy
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ag 54. If the price of a commodity reduces from ` 200 to ` 150, calculate the
new quantity demanded assuming that price elasticity of demand is 2.5
and the original quantity demanded is 25 Kgs.

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FOUNDATION EXAMINATION: MAY 2026

(A) 40.625Kgs
(B) 42.125 Kgs
(C) 40.250 Kgs
(D) 41.625 Kgs
55. The demand curve slopes upwards in case of which of the following
scenarios?
(A) Conspicuous necessities
(B) Normal goods
(C) Unitary elasticity
(D) Elasticity greater than one
56. Calculate the arc elasticity if P1 = ` 15, P2 = ` 20, Q1 = 50 units, and Q2
= 75 units.
(A) 1.4
(B) 1.2
(C) 2.1
(D) 1.5
57. In which of the following conditions the demand curve touches the
vertical axis and is horizontal at the price level?
(A) Elasticity being zero
(B) Elasticity>1
(C) Elasticity<1
(D) Elasticity is infinite
58. Choose the correct option from the following that is not a true property
of an Indifference Curve (IC):
(A) IC slopes upwards to the right
(B) IC is always convex to the origin
(C) IC will not touch either axes
(D) IC can never intersect each other

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Use the following information for Q 59, Q 60 and Q 61;

No. of units Total Fixed Cost (`) Total Variable Cost (`)
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0
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100 0
c. o
.c12o 100 50
s e m
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100 80

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3 100 100
4 100 110
5 100 118

59. Calculate the marginal cost of the 5th unit of production.
(A) `8
(B) ` 23.60

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(C) ` 43.60
(D) ` 118
c. o
s em when 3 units are produced.
60. Calculate the average variable cost
(A) ` 36
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(B) ` 33.33 a
(C) ` 66.67
(D) ` 100
61. Calculate the average total cost when 4 units are produced.
(A) ` 25
(B) ` 27.50
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(C) ` 52.50
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(D) ` 210
l arevenue of the se
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62. From the information below, calculate the marginal

ag 4 unit. th

Units Total Revenue (`) Average Revenue (`)
1 100 100

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FOUNDATION EXAMINATION: MAY 2026

2 180 90
3 240 80
4 300 75
5 330 66

(A) ` 75
(B) ` 80
(C) ` 66
(D) ` 60
63. The factors which determine the type of market are __________.
(A) Size of the commodity, size of the population and extent of
demand
(B) Size of production, nature of commodity and extent of supply
(C) Extent of demand, nature of commodity and size of the population
(D) Size of production, extent of demand and nature of commodity
64. Calculate the AR, when MR = 15 and price elasticity of demand - 1.5
(A) 30
(B) 60
(C) 45
(D) 22.5
65. Markets dealing with homogeneous products, which are perfect
substitutes referred to as ___.
(A) Monopoly
(B) Oligopoly
(C) Monopolistic Competition
(D) Perfect competition
66. The industry and the firm are identical in_________ type of market
situation.

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(A) Monopoly
(B) Perfect competition
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(C)
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Monopolistic competition
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(D)
c. o
Oligopsony
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e m the correct option from the following which represents market las
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67. Select

l aclassification based on the volume of business.
a
ag (A) Spot market
(B) Regulated market
(C) Retail market
(D) Local market
68. Government needs to take steps to regulate and prevent formation of
certain market forms that are exploitative and create undesirable

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outcomes in the economy. The market form is:

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(A) Perfect competition
(B) Monopoly
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(C)
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Oligopolistic competition g
(D) Monopolistic competition
69. Which of the following is not a characteristic of the Oligopoly market?
(A) Strategic Interdependence
(B) Group behaviour
(C) No importance to advertising

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(D) Importance to selling costs
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e of business
fall in the levels of investment and employment and supply exceeding

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to a great extent is predominant in _______ phase
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las cycle.
a g
ag (A) Upswing
(B) Boom
(C) Expansion

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FOUNDATION EXAMINATION: MAY 2026

(D) Recession
71. Calculate the amount of subsidies, when the national income is ` 4,500
crore, Net National Product at Market Price is ` 4,800 crore and indirect
taxes is ` 350 crore.
(A) ` 400 crore
(B) ` 650 crore
(C) ` 50 crore
(D) ` 100 crore
72. From the given options, select the method that measures national
income through a summation of factor incomes paid out by all
production units within the domestic territory of a country such as
wages, salaries, rent, interest and profit, with the exception of transfer
income.
(A) Value added method
(B) Expenditure method
(C) Disposal method
(D) Income method
73. Considering the Real GDP to be ` 4,500 crore and the Nominal GDP
` 6,750 crore, calculate the GDP deflator.
(A) 150
(B) 66.67
(C) 120
(D) 80.33
74. Calculate the NNP at MP when NNP at FC is ` 15,000 crore, indirect
taxes ` 450 crore, direct taxes ` 175 crore and subsidies are ` 250 crore.
(A) ` 15,025 crore
(B) ` 15,200 crore
(C) ` 15,275 crore
(D) ` 15,525 crore

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75. Calculate the equilibrium level of income, if the saving function is
denoted by S = -20 + 0.25 Y and autonomous investment (I)
= 100 crores.
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(A) 320 crores

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(B)
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160 crores
e 480 crores la s
l a s
(C)
a g
a76.g (D) 240 crores
National income is calculated as the consolidation of the production of
each industry after reducing the intermediate purchases from all other
industries in which of the following method?
(A) Industrial origin method
(B) Income method

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(C) Disposal approach
(D) Expenditure approach
c. o
s embetween
77. In economics, what distinguishes
regards to determination ofanational
'National' and 'Domestic with

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income?
(A) Depreciation
(B) Indirect taxes
(C) Subsidies
(D) Net factor income from abroad
78. The condition for national income equilibrium can be expressed through
which of the following expressions?

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(A) C-I = C+S
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se
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(C) C+I = C-S

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(D) C+1=S
a 79. Which of the following statements correctly explains the relationship
between Marginal Propensity to Consume (MPC), Marginal Propensity to
Save (MPS), and the value of the investment multiplier?

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FOUNDATION EXAMINATION: MAY 2026

(A) Higher the MPC more will be the value of investment multiplier
(B) Higher the MPS more will be the value of investment multiplier
(C) Lower the MPC more will be the value of investment multiplier
(D) Lower the MPS less will be the value of investment multiplier
80. While determining national income, the income, which is not spent on,
recently produced consumption goods and services may be referred to
as out of the income stream.
(A) Inflation
(B) Depreciation
(C) Injection
(D) Leakage
81. Which of the following institutions is not responsible for public debt
management in India?
(A) SEBI
(B) RBI
(C) Department of Economic Affairs
(D) Ministry of Finance
82. Which of the following is not a non-tax revenue under public finance?
(A) Interest receipts
(B) Receipts of union territories
(C) Dividend and profits from PSUs
(D) GST compensation cess
83. The act of undisciplined students shouting and making nuisance during
a lecture session in a class and disrupting teachers from delivering their
lectures is an example of
(A) Negative production externality
(B) Positive consumption externality
(C) Negative consumption externality

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(D) Positive production externality
84. Calculate the fiscal deficit from the following data.
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Revenue deficit ` 5,000 crores
c. o
c. o
Capital expenditure ` 45,000 crores
s e m
s em receipts excluding borrowings ` 42,000 crores
Capital
g la
g laSelect the correct answer from options given below: a
a (A) ` 2,500 crores
(B) ` 12,500 crores
(C) ` 10,000 crores
(D) ` 7,500 crores
85. Which of the following is not a general characteristic of money?
(A) Perishable
m
(B)
.
Effortlessly recognizableco
(C) Possessing uniformity em
(D) Easily transportable la
s
86.
ag
According to Keynes, the transactions demand for money is a direct
proportional and positive function of the level of income. Which of the
Following equations correctly represents this relationship?
(A) Lr = Y - k
(B) Lr = k Y
(C) Lr = k + Y

o m
m
(D) Lr = Y / k
c
. by
c. o 87. The s em
degree of adoption of banking habits by the public is measured

em the:
l a
l as a g
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(A) Credit-Deposit Ratio
(B) Reserve-Deposit ratio
(C) Investment-Deposit Ratio
(D) Currency-Deposit Ratio
21

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FOUNDATION EXAMINATION: MAY 2026

88. What is the notified consumer price index inflation set by the Central
Government as the target for the period August 5, 2016 to March 31,
2021?
(A) 3%
(B) 4%
(C) 8%
(D) 5%
89. The assumption that there are two media for storing value-money and
an interest-bearing alternative financial asset is a central feature of
which approach to the demand for money?
(A) Liquidity Preference Theory
(B) Restatement of Quantity Theory
(C) Inventory Theoretic Approach
(D) Classical Approach
90. Which of the following features is not a component of the Modern
Theory in international trade?
(A) International trade is only a distinct case of inter-regional trade
(B) It is based on labour theory of value
(C) It considers factor price differences as the principal cause of
commodity price differences
(D) It considers the relative prices of the factors which impacts the
comparative costs of the good
91. Which sector in India has the highest labour productivity?
(A) Primary
(B) Service
(C) Secondary
(D) Manufacturing
92. What is the full form of ECLGS?
(A) Emergency Corporate Line Guarantee Scheme

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BUSINESS ECONOMICS

(B) Emergency Credit Line Guarantee Scheme
(C) Emergency Credit Line Guarantee Subsidy
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(D)
m
Emergency Corporate Line Government Scheme
c. o
93.
.co
Which of the following features was not responsible for the launching of
s e m
m
e Severe strain on balance of payments
the radical economic reforms of 1991 in India?
la
l a s
(A)
a g
ag (B) Heavy internal and external debt
(C) High foreign exchange reserves
(D) Stringent conditions of IMF for availing further loans
94. What is the maximum limit of Foreign Direct Investment (FDI) permitted
under the automatic route in the marketing of food products and food
product e-commerce in India?

m
co
(A) 49%

.
em
(B) 74%
(C) 100%
l a s
(D) 51%
a g
95. Which of the following industries is not considered as a core industry of
the ICI in the Indian economy?
(A) Natural gas
(B) Fertilizer
(C) Steel

m
co
(D) Information and communication

m .
c. o m
96. Calculate the real exchange rate, considering nominal exchange rate 15,

se
domestic Price Index = 250 and foreign Price Index = 200.

s em g la
la
(A) 12.25

g a
a
(B) 15.50
(C) 18.75
(D) 9.60

23

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FOUNDATION EXAMINATION: MAY 2026

97. Which of the following scenarios docs not give rise to foreign direct
investment?

(A) Acquiring a controlling interest in an existing foreign company
(B) External commercial borrowing
(C) Joint venture with a foreign company

(D) Merger and acquisition
98. The 'Gulf Cooperation Council' is an example of which regional trade
agreement?

(A) A customs union
(B) Common market
(C) Economic and monetary union

(D) Regional preference trade agreement
99. Which of the following is not associated with exchange rate
depreciation?

(A) Leads to output expansion
(B) Encourages economic activity
(C) Lowers the relative price of imports
(D) Improves balance of trade
100. Post-independence which philosophy in Indian economics is related to
small scale and cottage industry and village republics?

(A) British philosophy
(B) Nehruvian philosophy
(C) East India Company philosophy

(D) Gandhian philosophy

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ANSWERS

m
MCQ Correct MCQ Correct MCQ Correct MCQ Correct

m 26. c. o
Option Option Option Option
1.
.c o
(B) (C) 51. (A) 76. (A)
e m
2.
e m (D) 27. (D) 52. (B) 77. (D)
la s
3.s g
l a (D) 28. (C) 53. (B) 78. (B)
a
ag 4.5. (D) (A)
29.
30.
(B)
(D)
54.
55.
(A)
(A)
79.
80.
(A)
(D)
6. (C) 31. (C) 56. (A) 81. (A)
7. (D) 32. (A) 57. (D) 82. (D)
8. (C) 33. (D) 58. (A) 83. (C)
9. (B) 34. (C) 59. (A) 84. (D)

m (C)
10. (B) 35. (B) 60. (B) 85. (A)
11. (B) 36. (B)
. co 61. 86. (B)

em63.
12. (A) 37. (C) 62. (D) 87. (D)
(C) s
la 64.
13. (C) 38. (D) 88. (B)
14. (A) 39.
a g
(D) (C) 89. (C)
15. (B) 40. (B) 65. (D) 90. (B)
16. (A) 41. (D) 66. (A) 91. (B)
17. (B) 42. (A) 67. (C) 92. (B)
18. (C) 43. (D) 68. (B) 93. (C)
19. (C) 44. (C) 69. (C) 94. (C)

m
20. (B) 45. (A) 70. (D) 95. (D)

m
21. (B) 46. (C) 71. (C) 96.
c o
. (B)
(C)

c. o 22. (B) 47. (A) 72. (D) 97.
s
m
e (A)
s em 23. (A) 48. (D) 73. (A)
a
gl 99. (C)
98.

gla 24. (A) 49. (C) 74. (B)
a 100.
a 25. (C) 50. (C) 75. (C) (D)

25

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