Economics Important Questions Set - 1 for SSC CGL and SSC CHSL 2017

Economics Important Questions Set-1 for SSC CGL and SSC CHSL EXAM

Economics Important Questions Set - 1 for SSC CGL and SSC CHSL 2017

Economics Important Questions for SSC CGL and SSC CHSL 2017

Economics Important Questions Set - 1 for SSC CGL and SSC CHSL 2017. This page contains Practice Questions on Economics with answers for important SSC CGL, SSC CHSL or 10+2 and other competitive exams. These Multiple Choice Questions has been collected by our team from different previous years exams like SSC CGL, CHSL or 10+2. We hope this will helpful  in enhancing your knowledge.


 

1). What is referred as Repository services ?

  1. A new scheme of fixed deposits
  2. A method of regulating stock exchanges
  3. An agency for safe - keeping of securities
  4. An advisory service to investors

Answer : 3. An agency for safe - keeping of securities

2). Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than

  1. 115 crores of rupees
  2. 85 crores of rupees
  3. 200 crores of rupees
  4. 210 crores of rupees

Answer : 3. 200 crores of rupees

3). Devaluation usually causes the internal prices to :

  1. Fall
  2. Rise
  3. Remained unchanged
  4. None of the above

Answer :  3. Remained unchanged

4). One of the objectives of Industrial Licensing Policy in India was to ensure :

  1. creation of adequate employment opportunities.
  2. Free flow of foreign capital in Indian Industries.
  3. Use of modern technology.
  4. Balance industrial development across regions

Answer :  2. Free flow of foreign capital in Indian Industries

5). The type of note issue system followed in India is :

  1. Maximum fiduciary system
  2. Minimum reserve system
  3. Proportional Fiduciary system
  4. Fixed Fiduciary system

Answer : 2. minimum reserve system

6). Inflation is caused by :

  1. Increase in supply of goods
  2. Increase in cash with the government
  3. Decrease in money supply
  4. Increase in the money supply

Answer : 4. Increase in the money supply

7). A firm sells new shares worth Rs. 1000 directly to individuals. This transaction will cause :

  1. Gross National product to rise by Rs. 1000
  2. Gross Domestic product by the RS. 1000
  3. National Income by to rise by the Rs. 1000
  4. No impact on Gross National Product

Answer :  4. No impact on Gross National Product

8). Which of the following is not true when the interest rate in the economy goes up ?

  1. Saving Increases
  2. Lending decreases
  3. Cost of production increases
  4. Return on capital increases

Answer : 3. Cost of production increases

9). The ‘break-even’ point is where

  1. marginal revenue equals marginal cost
  2. average revenue equals average cost
  3. total revenue equals totals costs
  4. None of these

Answer : 2. average revenue equals average cost

10). Rate of Interest is determined by

  1. The rate of return on the capital invested
  2. Central Government
  3. Liquidity preference
  4. Commercial Banks

Answer : 3. Liquidity preference

Economics Important Questions Set - 1 for SSC CGL and SSC CHSL 2017

11). Which of the following has not been a component of that agricultural strategy that brought about the Green Revolution ?

  1. Greater intensity of cropping
  2. Guarantee maximum prices
  3. New agricultural technology
  4. Package of Inputs

Answer : 2. Guarantee maximum prices

12). Which is not included in the private income arising in a country ?

  1. Factors income from net domestic products
  2. Net factors income from aboard
  3. Current transfers from Government
  4. Current payments on foreign loans

Answer : 4. Current payments on foreign loan

13). IMF was established to meet which of the following  objectives ?

  1. Promoting International Monetary Cooperation
  2. Expanding International Trade
  3. Lessening the disequilibrium in balance of trade
  4. Avoiding competitive exchange depreciations

Answer : 1. Promoting International Monetary Cooperation

14). Which of following taxes is exclusively and totally assigned to the central government by the constitution ?

  1. Estate Duty
  2. Sales Taxes
  3. Taxes on Railway Fares and Freights
  4. Corporation Taxes

Answer : 4. Corporation Taxes


15). What does ECS in banking transaction stand for ?

  1. Excess Credit Supervisor
  2. Extra Cash Status
  3. Exchange Clearing Standard
  4. Electronic Clearing service

Answer : 4. Electronic clearing Service

16). ‘The national income consists of a collection of goods and services reduced to coomon basis by being measured in termof money.’ - Who said this ?

  1. Samuelson
  2. Kuznets
  3. Hicks
  4. Pigou

Answer : 2. Kuznets

17). Capitals : Output Ratio of a measures

  1. Its per unit cost of production
  2. The amount of capitals invested per unit of output
  3. The ratio of capital depreciation to quantity of output
  4. The ratio of working capital employed to quantity of output

Answer : 2. The amount of capitals invested per unit of output

18). Which of the following  items is not included in the current account of India’s Balance of Payments ?

  1. Short - Term Commercial Borrowing
  2. Non - monetary gold movements
  3. Investment Income
  4. Transfer Payments

Answer : 1. Short - Term Commercial Borrowing

19). Efficient allocation of resources is achieved to greatest extent under

  1. Monoply
  2. Perfect Competition
  3. Monopolistic competition
  4. Oligopoly

Answer : 2. Perfect Competition

20). “Supply creates its own demand “ - Who said this ?

  1. J.B. Say
  2. J.S. Mill
  3. J.M. Keynes
  4. Senior

Answer : 1. J.B. Say

Economics Important Questions Set - 1 for SSC CGL and SSC CHSL 2017

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