300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download

300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download

300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download



300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download Links Given Below:

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300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download

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 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

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 common basis by being measured in term of money.’ - Who said this ?
  1. Samuelson
  2. Kuznets
  3. Hicks
  4. Pigou
Answer: 2. Kuznets

17). Capitals: Output Ratio of 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. Monopoly
  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

21). the total numbers of nationalized bank in India is
  1. 14
  2. 19
  3. 21
  4. 30
Answer: 2. 19

22). in which plan was self-reliance first emphasized
  1. Second Plan
  2. Third Plan
  3. Fourth Plan
  4. Fifth Plan
Answer: 4. Fifth Plan

23). the full of IRDA is
  1. Insurance Regulatory and Development Authority
  2. International Reconstruction and Development Association
  3. India Road Development Agency
  4. International Refinance and Development Association
Answer: 1. Insurance Regulatory and Development Authority

24). International Monetary Fund helps India with
  1. short term capital to hide over any temporary difficulty in payment of balance
  2. long term capital for purposes of reconstruction and development
  3. medium term capital to build up infrastructure
  4. grants at subsidized rates to stimulate private investment
Answer: 2. long term capital for purposes of reconstruction and development

25). The demand curve for Geffen good is
  1. upward rising
  2. downward falling
  3. parallel to the quantity axis
  4. parallel to price axis
Answer: 1. upward rising

26). The main function of the World Trade Organization is:
  1. enforcing of Uruguay Round Agreements
  2. facilitating multi-lateral trade relations of members countries and reviewing trade policies
  3. administrating trade dispute policies
  4. None of these.
Answer: 2. facilitating multi-lateral trade relations of member’s countries and reviewing trade policies

27). The world bank normally gives:
  1. short-term loans
  2. medium term loans
  3. long-term loans
  4. medium and long-term loans
Answer: 4. medium and long-term loans

28). The IMF (International Monetary Fund) came into assistance with:
  1. Berlin Conference
  2. London Conference
  3. Brettonwoods Conference
  4. Rome Conference
Answer: 3. Brettonwoods Conference

29). Service Cooperatives are:
  1. single purpose societies
  2. single purpose societies
  3. marketing societies
  4. multiple-purpose societies
Answer: 3. Brettonwoods Conference

30). Structural adjustment loan loans given by the World Bank are meant for :
  1. increasing employment in agriculture
  2. increasing export-earning capacity of the borrower country
  3. reducing inequalities of income distribution
  4. encouraging capital -intensive industries

Answer: 4. encouraging capital-intensive industries

31). The symbol of Reserve Bank of India is
  1. Capital of Ashok Pillar
  2. Kuber with a purse of money
  3. Tiger before a palm tree
  4. A dog sitting in a defensive state
Answer: 3. Tiger before a palm tree
  1. When there is one buyer and many sellers then that situation is called as
  1. Monopoly
  2. Single buyer right
  3. Down right
  4. Double buyers right
Answer: 2. Single buyer right
  1. Which Agency of Government has engaged to grade the standardize various agricultural products?
  1. Food Corporation of India
  2. Directorate of Marketing and Inspection
  3. Bureau of India Standards
  4. Central Statistical organization
Answer: 2. Directorate of Marketing and Inspection
  1. What is the purpose of the India Brand Equity Fund?
  1. To promote in - bound tourism
  2. To make "make in India "
  3. To organize trade fairs
  4. To provide venture capital to IT Sector
Answer: 2. to make "make in India”
  1. Governance through trade union is known as:
  1. Guild Socialism
  2. Fabian Socialism
  3. Syndicalism
  4. Liberalism
Answer: 3. Syndicalism
  1. Personal disposable income is:
  1. Always equal to personal income.
  2. Always more than person income.
  3. Equal to person income minus direct taxes paid by household.
  4. Equal to personal income minus taxes.
Answer: 3. equal to person income minus direct taxes paid by household
  1. Which of the following most closely approximates our definition of oligopoly?
  1. The cigarette industry.
  2. The barber shops
  3. The gasoline stations
  4. Wheat farmers
Answer: 1. the Cigarette Industry


  1. Who said 'supply creates its own demand’?
  1. Adam Smith
  2. J.B. Saw
  3. Marshall
  4. Ricardo
Answer: 2. J.B. Saw
  1. The Indian Economy can be most appropriately described as a:
  1. Capitalist economy
  2. socialist economy
  3. Traditional economy
  4. Mixed economy
Answer: d. Mixed economy
  1. One of the essential conditions of perfect competition is:
  1. Product differentiation
  2. Multiplicity of prices for identical products at any one time
  3. Many sellers and a few buyers
  4. Only one price for identical goods at any one time
Answer: 4. only one price for identical goods at any one time
  1. Indirect tax means:
  1. There is not direct relation between the tax payer and the govt.
  2. Direct relationship between tax payers and the govt.
  3. tax base is income
  4. tax base is income
Answer: 1. there is not direct relation between the tax payer and the govt.
  1. What is NARBARD’s primary role?
  1. To provide term loans to state co-operative banks
  2. To assist state govt. For share capital contribution
  3. To act as re-finance
  4. All the above
Answer: 4. All the above
  1. Operating Surplus arises in the:
  1. Government sector
  2. Production for self-consumption
  3. To act as re-finance
  4. Enterprise Sector
  5. Answer : 4. Enterprise Sector

  1. Investment is equal to:
  1. Gross total of all types of physical capital assets
  2. Gross total of all capital assets minus wear and tear
  3. Stock of plants, machines and equipments
  4. All of the above
Answer: 1. Gross total of all types of physical capital assets
  1. Under which plan did the govt. introduced an agricultural strategy which gave rise to Green Revolution?
  1. Sixth Five year plan (FYP)
  2. Second FYP
  3. Fourth FYP
  4. Third FYP
Answer: 4. Third FYP
  1. Which one of the following is not an example of indirect tax 2?
  1. Sales Tax
  2. Excise duty
  3. Custom duty
  4. Expenditure
Answer: 4. Expenditure
  1. The major aim of devaluation is to:
  1. Encourage Imports
  2. Encourage Exports
  3. Encourage both exports and imports
  4. discourage both exports and imports
Answer: 3. Encourage both exports and imports
  1. Structural Unemployment arises due to:
  1. Deflationary conditions
  2. Heavy industry bias
  3. Shortage of raw material
  4. Inadequate productive capacity
Answer: 4. inadequate productive capacity
  1. Interest on public debt is a part of:
  1. Transfer payment by the enterprises
  2. Transfer payment by the government
  3. National Income
  4. Interest payment by the household
Answer: 2. Transfer payment by the government

50.Per capita income is equal to :
  1. National Income / Total Population of the country
  2. National income + population
  3. National Income - population
  4. National Income x population
Answer: 1. National Income / Total Population of the country

300+ Economics Previous Year Questions for SSC CGL and SSC CHSL Exams

  1. The Annapurna scheme was implemented in year:
  1. 1998
  2. 1996
  3. 1999
  4. 2000
Answer: 4. 2000
  1. A balance of the trade of a country implies that:
  1. Imports are greater than Exports
  2. Exports are greater than Imports
  3. Both exports and imports are equal
  4. Rising Imports and falling Exports
Answer: 2. Exports are greater than Imports
  1. The value of a commodity expressed in terms of money is know as
  1. Price
  2. Utility
  3. Value
  4. Wealth
Answer: 1. Price


  1. The planning commission of India was established in the year
  1. 1947
  2. 1949
  3. 1950
  4. 1952
Answer: 3. 1950
  1. Green Revolution was started in
  1. 1960
  2. 1970
  3. 1980
  4. 1990
Answer: 1. 1960
  1. The term of the Finance commission is
  1. 10 years
  2. 5 years
  3. 6 years
  4. 3 years
Answer: 2. 5 years
  1. Reserve bank of India was nationalized in
  1. 1948
  2. 1947
  3. 1949
  4. 1950
Answer: 3. 1949
  1. in a capitalist economy, the prices are determined by:
  1. Demand and Supply
  2. Government Authorities
  3. Buyers in the market
  4. Sellers in the market
Answer: 1. Demand and Supply


  1. Which of the following is not a cause of low productivity in Indian agriculture?
  1. Co-operative farming
  2. Inadequate inputs availability
  3. Subdivision and fragmentation of land holdings
  4. Poor Finance and marketing
Answer: 1. Co-operative farming
  1. Monopolist resorts is an essential feature of
  1. Elasticity of supply
  2. Elasticity of demand
  3. Law of demand
  4. Law of supply
Answer: 2. Elasticity of demand
  1. Economics planning is an essential feature of
  1. Socialist economy
  2. Capitalist economy
  3. Mixed economy
  4. Dual Economy
Answer: 1. Socialist economy
  1. The HYV programme in India is called as
  1. Traditional Agriculture
  2. New Agriculture Strategy
  3. White Revolution
  4. Blue Revolution
Answer: 2. New Agriculture Strategy
  1. The national Policy for empowerment of women was adopted in the year
  1. 2001
  2. 2005
  3. 1991
  4. 1995
Answer: 1. 2001
  1. Which revenue earned by the union govt. is not distributed among state governments?
  1. Excise duty
  2. Income tax
  3. Custom duty
  4. None of these
Answer: 3. Custom duty
  1. A rising per Capita Income will indicate a better welfare if it is accompanied by –
(a) Unchanged Income distribution overall.
  1. b) Changed Income distribution in favour of rich.
(c) Changed Income distribution in favour of poor.

(d) Changed Income distribution in favour of Industrial Labour.

Ans. (c)
  1. GDP at factor cost equals–
(a) GDP – Indirect Tax + Subsidy

(b) GNP – depreciation

(c) NNP + depreciation

(d) GDP – subsidy + indirect tax.

Ans. (a)
  1. Which among of the following is direct tax?
(a) Sales Tax

(b) Excise Tax

(c) Wealth Tax

(d) Entertainment Tax

Ans. (c)
  1. Which among of the following is largest source of income for central govt.?
(a) Direct Taxes

(b) Custom Duty

(c) Excise Duty

(d) Entertainment Tax

Ans. (a)
  1. Which among of the following is not direct tax?
(a) Income Tax

(b) Property Tax

(c) Gift Tax

(d) Sales Tax

Ans. (d)
  1. The Example of Sales tax is-
(a) Corporate Tax

(b) Direct Tax

(c) Indirect Tax

(d) Welfare Tax

Ans. (c)
  1. When there is affect on economic activity of an specific country due to import and export, then such economy are called-
(a) Closed economy

(b) Open economy

(c) Agricultural economy

(d) Industrial economy

Ans.(b)
  1. The Worldwide great depression happens in which year-
(a) 1936

(b) 1929

(c) 1928

(d) 1930

Ans. (b)
  1. Which among the following is not the investment of goods & services?
(a) Cost of machinery

(b) Increase in cost of raw goods

(c) Increasing department of company

(d) Cost of buying house.

Ans.(c)
  1. Preparing butter and ghee for household consumption of own family is a part of –
(a) Household investment production

(b) Industrial production

(c) Consumption

(d) Own Account Production

Ans. (d)
  1. Multinational firm is–
(a)A company started by foreign governments

(b)A single company established in different countries

(c)A company in India started by U.S. government

(d)A company started jointly by India and U.S.

Ans. (b)
  1. 75. When there is affect on economic activity of an specific country due to import and export, then such economy are called-
(a)Closed economy

(b)Open economy

(c)Agricultural economy

(d)Industrial economy

Ans. (b)
  1. The Worldwide great depression happens in which year-
(a) 1936

(b) 1929

(c) 1928

(d) 1930

Ans. (b)
  1. Which among the following is not the investment of goods & services?
(a) Cost of machinery

(b) Increase in cost of raw goods

(c) Increasing department of company

(d) Cost of buying house.

Ans. (c)
  1. Preparing butter and ghee for household consumption of own family is a part of –
(a) Household investment production

(b) Industrial production

(c) Consumption

(d) Own Account Production

Ans. (d)
  1. Multinational firm is–
(a) A company started by foreign governments

(b) A single company established in different countries

(c) A company in India started by U.S. government

(d) A company started jointly by India and U.S.



Ans. (b)
  1. Internal profit–
(a) Happens when internal trade expands

(b) Happens when business expands

(c) Happens in economy when they increase

(d) Happens in firms when they expand their product

Ans. (d)
  1. The best Example of capital intensive industry in India is-
(a) Textile industry

(b) Steel industry

(c) Tourism industry

(d) Spare goods industry.

Ans. (b)
  1. Which of the following is related to South-South debate?
(a) Cooperation between developing countries

(b) Defense Organization

(c) Sitting between developed & developing countries

(d) All of the above.

Ans. (a)
83. In an economy “Development Stage” means-

(a) Starting of steadily increasing economy

(b) Bad economy

(c) Economy is on the verge of destroying

(d) All tariff to be removed.

Ans. (a)
  1. The Removal of prohibitions and hindrance by government is called.
(a) Globalization

(b) Privatization

(c) Liberalization

(d) Bilateral understanding.

Ans. (c) Liberalization
  1. Which among of the following is not a ‘canon of taxation’ according to Adam Smith?
(a) Canon of certainty

(b) Canon of simplicity

(c) Canon of convenience

(d) Canon of economy inefficiency

Ans. (b) Canon of simplicity
  1. VAT was firstly implemented in–
(a) Germany

(b) Spain

(c) France

(d) Russia

Ans. (c) France
  1. CENVAT is related with–
(a) Service Tax

(b) Wealth Tax

(c) Excise duty

(d) Selling Tax

Ans. (c) Excise duty
  1. ‘Value - added’ is equal to–
(a) Output Minus the Inputs

(b) Reconstruction profit

(c) Gross profit

(d) Investment profit

Ans. (a) Output minus the Inputs
  1. Finance Commission is organized.
(a) Every year.

(b) After every four year

(c) After every two year

(d)After every five year

Ans. (d) after every five year
  1. Which of the statements is correct about India’s National Income?
(a) Percentage share of agriculture is higher than services.

(b) Percentage share of industry is higher than agriculture.

(c) Percentage share of services is higher than industry.

(d) Percentage share of services is higher than agriculture and industry put together.

Ans.(d) Percentage share of services is higher than agriculture and industry put together
  1. in Centre – State financial relation in India, Gadgil formula is used in–
(a) Division of tax revenue

(b) Formulation of the policy for fresh borrowings

(c) Writing off state’s indebtedness to the centre

(d) Allocating Central Plan assistance between States

Ans. (a) Division of tax revenue
  1. Which authority decides about the states’ share in central taxes?
(a) Finance Commission

(b) Planning Commission

(c) Election Commission

(d) Finance Ministry

Ans. (a) Finance Commission
  1. The Worldwide great depression happens in which year-
(a) 1936

(b) 1929

(c) 1928

(d) 1930

Ans. (b) 1929
  1. Which among the following is not the investment of goods & services?
(a) Cost of machinery

(b) Increase in cost of raw goods

(c) Increasing department of company

(d) Cost of buying house.

Ans.(c) Increasing department of company
  1. Preparing butter and ghee for household consumption of own family is a part of –
(a) Household investment production

(b) Industrial production

(c) Consumption

(d) Own Account Production

Ans. (d) Own Account Production
  1. Multinational firm is–
(a)A company started by foreign governments

(b)A single company established in different countries

(c)A company in India started by U.S. government

(d)A company started jointly by India and U.S.

Ans.(b)A single company established in different countries
  1. When there is affect on economic activity of an specific country due to import and export, then such economy are called-
(a)Closed economy

(b)Open economy

(c)Agricultural economy

(d)Industrial economy

Ans. (b)Open economy
  1. The Worldwide great depression happens in which year-
(a) 1936

(b) 1929

(c) 1928

(d) 1930

Ans. (b) 1929
  1. Which among the following is not the investment of goods & services?
(a) Cost of machinery

(b) Increase in cost of raw goods

(c) Increasing department of company

(d) Cost of buying house.

Ans. (c) Increasing department of company
  1. Preparing butter and ghee for household consumption of own family is a part of –
(a) Household investment production

(b) Industrial production

(c) Consumption

(d) Own Account Production

Ans.(d) Own Account Production
  1. Multinational firm is–
(a) A company started by foreign governments

(b) A single company established in different countries

(c) A company in India started by U.S. government

(d) A company started jointly by India and U.S

Ans.(b) A single company established in different countries
  1. The tree like structure of records in a database in-
(a) Network Model

(b) Hierarchical Model

(c) Relational Model

(d) Multi-Dime moral Model

Ans. (b) Hierarchical Model
  1. according to Kenz, consumption function shows relation between.
(a) Total Consumption and Total Population

(b) Total Consumption and Normal Price Rate

(c) Total Consumption and Total Income

(d)Total Consumption and Rate of Interest

Ans. (c) Total Consumption and Total Income
  1. Forced saving refers to-
(a) Compulsory deposits imposed on income tax payers

(b) Provident fund contribution of private sector employees

(c) Reduction of consumption consequent to a rise in price

(d) Taxes on individual income and wealth

Ans. (c) Reduction of consumption consequent to a rise in price
  1. The Expenditure on advertisement and public relation by an enterprise is a part of its-
(a) Consumption of fined capital

(b) Final consumption Expenditure

(c) Intermediate Consumption

(d) Fined Capital

Ans. (c) Intermediate Consumption
  1. If a country produces consumer goods only and nothing else, then-
(a) Standard of living will be highest

(b) The country have certain amount of good

(c) The country will soon become poor if external trade

will not happen

(d) The country will gradually become rich if external trade will not happen

Ans. (c) The country will soon become poor if external trade will not happen
  1. Which of the following represents the saving of the Private Corporate Sector?
(a) Undistributed profits

(b) Excess of income over expenditure

(c) Dividends paid to shareholders

(d) Total profit of a company

Ans. (a) Undistributed profits
  1. The Income of Indians working abroad is-
(a) Domestic Income of India

(b) Income earned from abroad

(c) Net domestic product of India

(d) Grave domestic product of India.

Ans. (b) Income earned from abroad
  1. When increase in income the increase in ratio between income & expenditure changes–
(a) In same ratio

(b) Ratio less than 1

(c) Ratio more than one

(d) None

Ans. (b) Income earned from abroad
  1. GDP is what percent of Fiscal deficit?
(a) 7

(b) 4

(c) 8

(d) 1

Ans. (b) 4
  1. The Census of Indian agriculture is done by–
(a) Production Method

(b) Income Method

(c) Expenditure Method

(d) Consumption Method

Ans.(a) Production Method
  1. The First Income Committee was established in–
(a) 1948

(b) 1949

(c) 1950

(d) 1951

Ans. (b) 1949
  1. National Income include–
(a) Financial help to earthquake victims

(b) Poket money of a child

(c) Winning of a lottery Prize

(d) Construction of a new House

Ans. (d)


  1. Other name of Net National Product at market price?
(a) National Income

(b) Gross Domestic Production

(c) Personal Income

(d) Per Capital Income

Ans. (a)
  1. Compared to rich the poor’s saving is–
(a) A larger part of their income

(b) An equal part of their income

(c) A small part of their income

(d) All of their incomes

Ans. (c)
  1. One of the main factors that led to rapid expansion of Indian exports is–
(a) Imposition of export duty

(b) Liberalization of the economy

(c) Recession in other countries

(d) Diversification of exports

Ans. (b)
  1. A ‘Transfer Income’ is as –
(a) Income which is not produced by as production process.

(b) Income taken away from one person given over to another.

(c) Unearned Income

(d) Earned Income

Ans. (a)
  1. Personal Income produced in a country is not included in–
(a) Production income from NDP

(b) Net Production Income from foreign.

(c)Transfer Income from government

(d) Current Payment on Foreign loans.

Ans. (d)
  1. The Effect of ‘Investment Multiplier’ is shows on–
(a) Employment

(b) Savings

(c) Income

(d) Consumption

Ans. (c)
  1. Which of the following tax is imposed by state govt.?
(a) Entertainment Tax

(b) Property Tax

(c) Income Tax

(d) Corporate Tax

Ans. (a)
  1. Taxes are called as Regressive when-
(a) None of these

(b) It causes same burden on rich and poor

(c) Less burden on poor as compared to rich

(d) More burden on poor as compared to rich

Ans. (c)
  1. In case of direct tax, impact of tax & incidence of tax is–
(a) On two different person

(b) On same person

(c) Any other person

(d) On that department which called tax.

Ans. (b)
  1. Who was the Chairman of tenth Finance Commission?
(a) Manmohan Singh

(b) Vasant Sathe

(c) Shiv Shankar

(d) K.C. Pant

Ans. (d)
  1. Who was the Chairman of 3th Finance Commission?
(a) Dr. Vijay L Kelkar

(b) Dr. C Rangrajan

(c) Dr. A.M. Khusro

(d) Dr. C. Subbarao

Ans. (a)

  1. For becoming chairman of finance commission which one is necessary?
(a) He should be from Finance and Banking sector

(b) He should be high level economist

(c) He should be specialist of Jurisdiction matters

(d) In case of public matters, he should be a man of perfection

Ans. (d)
  1. The practice of selling goods in a foreign country at aprice below their domestic selling price is called–
(a) ‘Diplomacy’

(b) ‘Discrimination’

(c) ‘Dumping’

(d) ‘Double pricing’

Ans. (c)
  1. Indirect taxes by nature are–
(a) Digressive

(b) Regressive

(c) Progressive

(d) Proportional

Ans. (b)

128. Per capita income is equal to:
  1. National Income / Total Population of the country
  2. National income + population
  3. National Income - population
  4. National Income x population
Answer: 1. National Income / Total Population of the country

129. A balance of the trade of a country implies that :
  1. Imports are greater than Exports
  2. Exports are greater than Imports
  3. Both exports and imports are equal
  4. Rising Imports and falling Exports
Answer: 2. Exports are greater than Imports

130. The value of a commodity expressed in terms of money is know as
  1. Price
  2. Utility
  3. Value
  4. Wealth
Answer: 1. Price

131. The planning commission of India was established in the year
  1. 1947
  2. 1949
  3. 1950
  4. 1952
Answer: 3. 1950

132. Green Revolution was started in
  1. 1960
  2. 1970
  3. 1980
  4. 1990
Answer: 1. 1960

133. The term of the Finance commission is
  1. 10 years
  2. 5 years
  3. 6 years
  4. 3 years
Answer : 2. 5 years

134. Reserve bank of India was nationalized in
  1. 1948
  2. 1947
  3. 1949
  4. 1950
Answer: 3. 1949

135. In a capitalist economy, the prices are determined by :
  1. Demand and Supply
  2. Government Authorities
  3. Buyers in the market
  4. Sellers in the market
Answer: 1. Demand and Supply

136. Which of the following is not a cause of low productivity in Indian agriculture?
  1. Co-operative farming
  2. Inadequate inputs availability
  3. Subdivision and fragmentation of land holdings
  4. Poor Finance and marketing
Answer: 1. Co-operative farming

137. Monopolist resorts is an essential feature of
  1. Elasticity of supply
  2. Elasticity of demand
  3. Law of demand
  4. Law of supply
Answer: 2. Elasticity of demand

138. Economics planning is an essential feature of
  1. Socialist economy
  2. Capitalist economy
  3. Mixed economy
  4. Dual Economy
Answer: 1. Socialist economy

139. The national Policy for empowerment of women was adopted in the year ;
  1. 2001
  2. 2005
  3. 1991
  4. 1995
Answer: 1. 2001

140. Which revenue earned by the union govt. is not distributed among state governments?
  1. Excise duty
  2. Income tax
  3. Custom duty
  4. None of these
Answer: 3. Custom duty

141. Which among of the following is direct tax?

(a)Sales Tax

(b)Excise Tax

(c)Wealth Tax

(d)Entertainment Tax

Ans. (c)

142. Which among of the following is largest source of income for central govt.?

(a)Direct Taxes

(b)Custom Duty

(c)Excise Duty

(d)Entertainment Tax

Ans. (a)

143. Which among of the following is not direct tax?

(a)Income Tax

(b)Property Tax

(c)Gift Tax

(d)Sales Tax

Ans. (d)

144. The Example of Sales tax is-

(a) Corporate Tax

(b)Direct Tax

(c)Indirect Tax

(d)Welfare Tax

Ans. (c)

145. Which of the following tax is imposed by state govt.?

(a)Entertainment Tax

(b)Property Tax

(c)Income Tax

(d)Corporate Tax

Ans. (a)

146. Taxes are called as Regressive when-

(a)None of these

(b)It causes same burden on rich and poor

(c)Fewer burdens on poor as compared to rich

(d)More burden on poor as compared to rich

Ans. (c)

147. In case of direct tax, impact of tax & incidence of tax is–

(a)On two different person

(b)On same person

(c)Any other person

(d)On that department which called tax.

Ans. (b)

148.Who was the Chairman of tenth Finance Commission?

(a)Manmohan Singh

(b)Vasant Sathe

(c)Shiv Shankar

(d)K.C. Pant

Ans. (d)

149.Who was the Chairman of 3th Finance Commission?

(a)Dr. Vijay L Kelkar

(b)Dr. C Rangrajan

(c)Dr. A.M. Khusro

(d)Dr. C. Subbarao

Ans. (a)

150.For becoming chairman of finance commission which one is necessary?

(a)He should be from Finance and Banking sector

(b)He should be high level economist

(c)He should be specialist of Jurisdiction matters

(d)In case of public matters, he should be a man of perfection

Ans. (d)

151. Which among of the following is not a ‘canon of taxation’ according to Adam Smith?

(a)Canon of certainty

(b)Canon of simplicity

(c)Canon of convenience

(d)Canon of economy inefficiency

Ans. (b)

152.VAT was firstly implemented in–

(a)Germany

(b)Spain

(c)France

(d)Russia

Ans.(c)

153. CENVAT is related with–

(a)Service Tax

(b)Wealth Tax

(c)Excise duty

(d)Selling Tax

Ans. (c)

154.‘Value - added’ is equal to–

(a)Output minus the Inputs

(b)Reconstruction profit

(c)Gross profit

(d)Investment profit

Ans. (a)

155.Finance Commission is organized.

(a) Every year.

(b)After every four year

(c)After every two year

(d)After every five year

Ans. (d)

156. Which of the statements is correct about India’s National Income?

(a)Percentage share of agriculture is higher than services.

(b)Percentage share of industry is higher than agriculture.

(c)Percentage share of services is higher than industry.

(d)Percentage share of services is higher than agriculture and industry put together.

Ans. (d)

157.In Center – State financial relation in India, Gadgil formula is used in–

(a) Division of tax revenue

(b) Formulation of the policy for fresh borrowings

(c) Writing off state’s indebtedness to the centre

(d) Allocating Central Plan assistance between States

Ans. (a)

158.Which authority decides about the states’ share in central taxes?

(a)Finance Commission

(b)Planning Commission

(c)Election Commission

(d)Finance Ministry

Ans. (a)

159.The practice of selling goods in a foreign country at a price below their domestic selling price is called–

(a)‘Diplomacy’

(b)‘Discrimination’

(c)‘Dumping’

(d)‘Double pricing’

Ans. (c)

160.Indirect taxes by nature are–

(a)Digressive

(b)Regressive

(c)Progressive

(d)Proportional

Ans. (b)

161.Taxation is a tool of–

(a)Monetary Policy

(b)Fiscal Policy

(c)Price Policy

(d)Wage Policy

Ans. (b)

162.The Fringe Benefit Tax was introduced in the budget of–

(a)2003-04

(b) 2004-05

(c) 2005-06

(d)2006-07

Ans. (c)

163.The government set-up a committee headed by the Chairman. Central Board of Direct Taxes sometime back to go into–

(a)Codification of tax laws

(b)The entire structure of tax laws including the question of imposition of bank tax

(c)The concerns of the foreign investors in India with regards to taxation matters

(d)Aspects of generation of black money, its transfer abroad and bringing back such money into India’s Legitimate Financial System.

Ans. (d)

164.Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states?

(a)Expenditure Tax and Gift Tax

(b)Additional duties of excise in lieu of sales tax

(c)Stamps and Registration

(d)Taxes on Advertisement

Ans. (d)

165.Which of the following is not the source of the revenue of Central Government?

(a)Income Tax

(b)Corporate Tax

(c)Agricultural Income Tax

(d)Excise Duty

Ans. (c)

166. The Report of Vijay Kelkar Committee relates to–

(a)Trade reforms

(b)Centre-state financial relations

(c)Disinvestment in public sector enterprises

(d)Tax reforms

Ans. (d)

167.Which of the following taxes is not collected by the Central Government?

(a)Income Tax

(b)Customs Duty

(c)Professional Tax

(d)Excise Duty

Ans. (c)

168.Excise duty on a commodity is payable with reference to its–

(a)Production

(b)Production and Sale

(c)Production and Transportation

(d)Production, Transportation and Sale

Ans. (a)

169. If the tax rate increases with the higher level of income, it shall be called–

(a)Proportional Tax

(b)Progressive Tax

(c)Lump sum Tax

(d)Regressive Tax

Ans. (b)

170.Which of the following sets belong to Central tax?

(a)Excise Duty, Sales Tax and Customs Duty

(b)Excise Duty, Customs Duty and Income Tax.

(c)Income Tax, Customs Duty and House Tax

(d)Customs Duty, Entertainment tax and Income Tax

Ans. (b)

175.Which of the following taxes is not shared between the union and the states?

(a)Income Tax

(b)Excise Duty

(c)Corporation Tax

(d)Sales Tax

Ans. (d)

176.Which of the following taxes is levied by the Union and appropriated and planned by the states?

(a)Service Tax

(b)Stamp Duty

(c)Property Tax

(d)Passenger and Freight Duty

Ans. (b)

177.Interest on public debt is part of–

(a)Transfer payments by the enterprises

(b)Transfer payments by the government

(c)National income

(d)Interest payments by households

Ans. (b)

178. Which of the following taxes is such which does not cause rise in price?

(a)Import Duty

(b)Income Tax

(c)Octoroi

(d)Sales Tax

Ans.(b)

179. Who among the following has suggested tax on expenditure?

(a)Dalton

(b)Kaldor

(c)Musgrave

(d)Gautam Mathur

Ans. (b)

180. Which amidst the following taxes collected by the Union is not mandated to be assigned to the states?

(a)Terminal taxes on goods or passengers carried by railway, sea or air.

(b)Taxes on railway fares and freights

(c)Taxes on consignment of goods

(d)Service Tax

Ans. (d)

189. The main source of revenue for a State Government in India is–

(a)Sales Tax

(b)Excise Duty

(c)Income Tax

(d)Property Tax

Ans. (a)

190. The proceeds of Income tax go to–

(a)Central Government

(b)State Government

(c)Centre and States

(d)Corporation Authorities

Ans. (c)

191. How does the consumer benefit with VAT?

(a)It removes tax on tax and thus reduces price rise

(b)Reduces the cost of production

(c)With the abolition of the sales tax

(d)Due to the exemption of small businesses from the tax within certain limits prescribed by the state

Ans. (a)

192.The receipts of which of the following taxes/duties are not shared with the states?

(a)Tax on income except agriculture

(b)Corporation tax

(c)Surcharge on Income tax

(d)Capital gain tax

Ans. (a)

193. The duties levied on alcoholic liquors, narcotic drugs and opium come under–

(a)Central Excise Duty

(b)Land Revenue

(c)State Excise Duty

(d)General Sales Tax

Ans. (a)

194. the most important source of revenue for the states in India is–

(a)Corporation Tax

(b)Income Tax

(c)Excise Duties

(d)Sales Tax

Ans. (d)

195. Parallel economy emerges due to–

(a)Tax Avoidance

(b)Tax Evasion

(c)Tax Compliance

(d)Tax Estimation

Ans. (b)

196. The tax levied on gross sales revenue from business transactions is called–

(a)Turnover Tax

(b)Sales Tax

(c)Capital Gains Tax

(d)Corporation Tax

Ans. (a)

197.A tax is characterized by horizontal equity if its liability is–

(a)Proportional to the income of tax payers

(b)Similar for tax payers in similar circumstances

(c)Proportional to the expenditure of tax payers

(d)The same for every tax payer

Ans. (a)

198. Which authority recommends the principles governing the grants in aid of the revenues of the states out of the Consolidated Fund of India?

(a)Public Accounts Committee

(b)Union Ministry of Finance

(c)Finance Commission

(d) Inter-State Council

Ans. (c)

199. Buoyancy of a tax is defined as–

(a)Percentage increase in tax revenue/percentage increase in tax base

(b)Increase in tax revenue/percentage increase in tax coverage

(c)Increase in tax revenue/increase in tax base

(d)Percentage increase in tax revenue/increase in tax coverage

Ans. (c)

200. Formalized system of trading agreements with groups of countries is known as


(a) Trading blocks
(b) Trade ventures
(c) Trade partners
(d) Trade organizations

Ans. a

201. Depression formed due to deflating action of winds are called
(a) Playas
(b) Yardang
(c) Ventifacts
(d) Sand dunes
ANS (B)3.
202.Which one of the following is not a method of estimating National Income ?
(a) Expenditure method

(b) Product method
(c) Matrix method
(d) Income methodANS (C)203. The monetary policy is India is formulated by
(a) Central Government

(b) Industrial Financial Corporation of India
(c) Reserve Bank of India
(d) Industrial Development Bank of IndiaANS (C)204. A short-term government security paper is called
(a) Share

(b) Debenture
(c) Mutual fund
(d) Treasury billANS (D)205. WTO basically promotes
(a) Financial support

(b) Global peace
(c) Unilateral trade
(d) Multilateral tradeANS (D)206. Under which market condition do firms have excess capacity?
(a) Perfect competition

(b) Monopolistic competition
(c) Duopoly
(d) OligopolyANS (B)207. Price theory is also known as
(a) Macro Economics

(b) Development Economics
(c) Public Economics
(d) Micro EconomicsANS (D)208. At present, India is following
(a) Fixed exchange rate
(b) Floating exchange rate
(c) Pegged up exchange rate
(d) Pegged down exchange rate

ANS (B)

209. National Income is the


(a) Net National Product at market price
(b) Net National Product at factor cost
(c) Net Domestic Product at market price
(d) Net Domestic Product at factor cost

ANS (B)

210. Which among the following agencies released the report, Economic Outlook for 2009–10 ?


(a) Planning Commission
(b) PM's Economic Advisory Council
(c) Finance Commission
(d) Reserve Bank of India

ANS (B)

212. India and U.S. have decided to finalise agreements related to which of the following ?


(a) Trade and Investment
(b) Intellectual Property
(c) Traditional Knowledge
(d) All of the above

ANS (D)

213. The exchange of commodities between two countries is referred as


(a) Balance of trade
(b) Bilateral trade
(c) Volume of trade
(d) Multilateral trade

ANS (C)

214. A want becomes a demand only when it is backed by the


(a) Ability to purchase
(b) Necessity to buy
(c) Desire to buy
(d) Utility of the product

ANS (D)

215. The terms 'Micro Economics' and "Macro Economics" were coined by


(a) Alfred Marshall
(b) Ragner Nurkse
(c) Ragner Frisch
(d) J.M. Keynes

ANS (D)

216. During periods of inflation, tax rates should


(a) increase
(b) decrease
(c) remain constant
(d) fluctuate

ANS (A)

217. Which is the biggest tax paying sector in India ?


(a) Agriculture sector
(b) Industrial sector
(c) Transport sector
(d) Banking sector

ANS (B)

218. "Economics is what it ought to be" – This statement refers to


(a) Normative economics
(b) Positive economics
(c) Monetary economics
(d) Fiscal economics

ANS (A)

219. The excess of price a person is to pay rather than forego the consumption of the commodity is called


(a) Price
(b) Profit
(c) Producer's surplus
(d) Consumer's surplus

ANS (C)

220. When there is an official change in the exchange rate of domestic currency, then it is called:


(a) Appreciation
(b) Depreciation
(c) Revaluation
(d) Deflation

ANS (C)

221. Inflation redistributes income and wealth in favour of:


(a) Pensioners
(b) Poor
(c) Middle class
(d) Rich

ANS (D)

223. The fringe benefit tax was introduced in the budget of


(a) 2003-04
(b) 2004-05
(c) 2005-06
(d) 2006-07

ANS (C)

224. The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called


(a) Foreign Direct Investment
(b) Portfolio Investment
(c) NRI Investment
(d) Foreign Indirect Investment

ANS (D)

225. Monopolist resorts to price discrimination depending upon the


(a) Elasticity of supply
(b) Elasticity of demand
(c) Law of demand
(d) Law of supply

ANS (B)

226. Economic planning is an essential feature of


(a) Socialist economy
(b) Capitalist economy
(c) Mixed economy
(d) Dual economy

ANS (A

227. The Rashtriya Barh Ayog (RBA) is related with


(a) Droughts and Floods
(b) Poverty Alleviation
(c) Floods
(d) Disaster Management

ANS (C)

228. Low cost housing is an example for


(a) Mixed wants
(b) Social wants
(c) Private wants
(d) Merit wants

ANS (D)

229. Consumption for the sake of enjoying social acknowledgement is called


(a) Rational consumption
(b) Social consumption
(c) Conspicuous consumption
(d) Demonstration consumption

ANS (C)

230. Of the following economists, whom do you consider to be the Master of “Partial Analysis”?


(a) Leon Walras
(b) Alfred Marshall
(c) J. M. Keynes
(d) Lionel Robbins

ANS (B)

231. India making ‘Double Taxation Avoidance Agreements’(DTAA) with other countries for the promotion of


(a) Bilateral trade
(b) External commercial borrowings
(c) Foreign direct investments
(d) Foreign institutional investment

ANS (A)

232. Brain drain has been caused by


(a) failure to recognize talent in the originating country.
(b) the lure of high living standards
(c) lack of employment opportunities
(d) socio-economic instability

ANS (C)

233. The study of population is known as.


(a) Demography
(b) Climatology
(c) Petrology
(d) Hydrology

ANS (A)

234. The BSE Sensex is based on how many stocks ?


(a) 80
(b) 100
(c) 30
(d) 50

ANS (C)

235. The funds raised by the Government within the country is known as


(a) Domestic budgetary source
(b) Domestic banking source
(c) Domestic saving source
(d) Domestic monetary source

ANS (A)

236. Sick units are referred to


(a) SIA
(b) DGTD
(c) FIPB
(d) BIFR

ANS (D)

237. The concept ‘Duopoly’ was introduced by


(a) Sweezy
(b) Malthus
(c) Ricardo
(d) Cournot .

ANS (D)

238. Which of the following is the feature of monopolistic competition ?


(a) Single firm
(b) Large number of firms
(c) Group of firms
(d) None of the above

ANS (C)

239. Which one of the following is an example for a non-economic good?


(a) Doctor’s service
(b) Teacher’s service
(c) Mother’s service
(d) Banker’s service

ANS (C)

240. Which one of the following committee is associated with banking sector reforms in India?


(a) L. C. Gupta
(b) Narsimhan
(c) Chakravarty
(d) Kelkar

ANS (B)

241. Which one of the following is not a qualitative credit control measure of the RBI?


(a) Fixing margin requirements
(b) Variable interest rates
(c) Open market operations
(d) Credit rationing

ANS (C)

242. The 13th Five Year Plan will be operative for the period.


(a) 2010 - 2015
(b) 2011- 2016
(c) 2012 - 2017
(d) 2013 - 2018

ANS (C)

243. The national income of a nation is the


(a) Government’s annual revenue
(b) Sum total of factor incomes
(c) Surplus of public sector enterprises
(d) Exports minus imports

ANS (B)

244. Externality theory is the basic theory of the following branch of Economics :


(a) Macro Economics
(b) Environomics
(c) Fiscal Economics
(d) International Economics

ANS (D)

245. Diamonds are priced higher than water because :


(a) consumers do not buy them at lower prices.
(b) they are sold by selected firms with monopolistic powers.
(c) their marginal utility to buyers is higher than that of water
(d) their total utility to buyers is higher than that of water

ANS (C)

246. "Functional Finance" is associated with :


(a) Abba 'P' Lerner
(b) Adolph Wogner
(c) Adam Smith
(d) Adams

ANS (A)

247. Of the following land uses, which is restricted to Special Economic Zones ?


(a) Information Technology Companies
(b) Educational Institutions
(c) Free trade Centres
(d) Marketing Centres

ANS (C)

248. As per the TRIPS Agreement-1994, a good originating from a region with specific character/quality/reputation is covered/to a protected under the IPR as


(a) Patent
(b) Trademark
(c) Trade secret
(d) GI (Geographical Indicator)

ANS (D)

249. ‘Gold’ is mainly related to


(a) Local market
(b) National market
(c) International market
(d) Regional market

ANS (C)

250. The demand for labour is called


(a) Derived demand
(b) Factory demand
(c) Market demand
(d) Direct demand

ANS (A)



251. Which of the following is not an investment expenditure in goods and services?

(a) Purchase of machinery
(b) An increase in business inventories
(c) Expansion of the main plant of a company
(d) Purchase of a house

ANS (D)

252. Which one of the following represents the Savings of the Private Corporate Sector?


(a) Undistributed profits
(b) Excess of income over expenditure
(c) Dividends paid to shareholders
(d) Total profits of a company

ANS (A)

253.Social accounting system in India is classified into


(a) Assets, liabilities and debt position
(b) Public sector, Private sector and Joint sector
(c) Income, product and expenditure
(d) Enterprise, households and government

ANS (C)

254. Forced Savings refer to


(a) Compulsory deposits imposed on income tax payers
(b) Provident fund contribution of private sector employees
(c) Reduction of consumption consequent to a rise in prices
(d) Taxes on individual income and wealth

ANS (C)

255. High powered money is


(a) Banks reserves at Central Bank
(b) All loans and advances of banks
(c) Money held by banks
(d) Currency held by public and reserves with the Central Bank

ANS (A)

256. Hardening interest rate means


(a) interest rate is remaining sticky
(b) interest rate is very low
(c) interest rate is increasing
(d) interest rate is falling

ANS (A)

257. “Dumping” is a situation when the seller


(a) supplies mote than the demand for products in the World Market.
(b) supplies more in the Domestic Market.
(c) sells a commodity at a lower price in the World Market and charges a higher price in the Domestic Market.
(d) sells a commodity at a higher price in the World Market and charges a lower price in the Domestic Market.

ANS (C)

258. Tick the correct option with regards to the contribution towards GDP (Gross Domestic Product) from Agriculture


(a) During 1950–51 (GDP 51-88%) and 2011–12 (GDP 14-01%)
(b) During 1950–51 (GDP 11-00%) and 2011–12 (GDP 25%)
(c) During 1990–91 (GDP 29-53%) and 2011–12 (GDP 66-77%)
(d) During 1980–81 (GDP 35-69%) and 2011–12 (GDP 20-69%)

ANS (A)

260. The principle of maximum social advantage is the basic principle of


(a) Micro Economics
(b) Macro Economics
(c) Fiscal Economics
(d) Environmental Economics

ANS (C)

261. Which Five Year Plan is not correct among the following?


(a) First 1951–56
(b) Second 1956–61
(c) Third 1961–66
(d) Fourth 1966–71

ANS (D)

262. An economic theory is a/an

(a) Axion
(b) Proposition
(c) Hypothesis
(d) Tested hypothesis

ANS (B)

263. Indian Special Economic Rules amendment came in the year


(a) 2000
(b) 2002
(c) 2004
(d) 2006

ANS (D)

264. According to Marx, the source of value is (SSC CGL 1st Sit. 2013)

(a) Capital
(b) Land
(c) Labour
(d) None of the above

ANS (C)

265. The Community Development Programme was launched in the year


(a) 1950
(b) 1952
(c) 1951
(d) 1953

ANS (B)

266. Prof. Milton Friedman was the leader of


(a) Ohio school
(b) Chicago school
(c) Cambridge school
(d) London school

ANS (B)

267. Which one of the following is not a qualitative control of credit by the Central Bank of a country?


(a) Rationing of credit
(b) Regulation of consumer credit
(c) Variation of the reserve ratio
(d) Regulation of margin requirements

ANS (C)

268. The market in whcih loans of money can be obtained is called


(a) Reserve market
(b) Institutional market
(c) Money market
(d) Exchange market

ANS (C)

269. If the marginal return increases at a diminishing rate, the total return


(a) increases
(b) decreases
(c) remains constant
(d) becomes zero

ANS (A)

270. The law of Increasing Returns means


(a) increasing cost
(b) decreasing cost
(c) increasing production
(d) increasing income

ANS (B)

271. Which of the following is the Regulator of the credit rating agencies in India?


(a) RBI
(b) SBI
(c) SIDBI
(d) SEBI

ANS (D)

272. Which is the first Indian Company to be listed in NASDAQ?


(a) Reliance
(b) TCS
(c) HCL
(d) Infosys

ANS (D)

273. RRBs are owned by

(a) Central Government
(b) State Government
(c) Sponsor Bank
(d) Jointly by all of the above

ANS (D)

274. The Monetary and Credit Policy is announced by which of the following?


(a) Ministry of Finance of Centre
(b) Reserve Bank of India
(c) State Bank of India
(d) Planning Commission of India

ANS (B)

275. Which of the following method is not used in determining National Income of a country?


(a) Income Method
(b) Output Method
(c) Input Method
(d) Investment Method

ANS (D)

276. What does the letter 'e' denotes in the term 'e-banking'?


(a) Essential Banking
(b) Economic Banking
(c) Electronic Banking
(d) Expansion Banking

ANS (C)

277. Which among the following is not a Bretton Woods Institution ?


(a) International Monetary Fund (IMF)
(b) World Bank
(c) Organisaiton of Economic Cooperation and
Development (O.E.C.D.)
(d) None of these

ANS (C)

278. Equilibrium price in the market is determined by the


(a) equality between total cost and total revenue
(b) equality between average cost and average revenue.
(c) equality between marginal cost and marginal revenue
(d) equality between marginal cost and average cost.

ANS (C)

279. In the national context which of the following indicates Macro Approach ?

(a) Sales of Bata Shoe Company
(b) Exports of Mangoes to U.K.
(c) Income from Railways
(d) Inflation in India

ANS (D)

280. Internal economies


(a) arise in an economy as it makes progress
(b) accrue to a firm when it expands its output
(c) arise when there is expansion in internal trade
(d) arise when there is expansion in an industry

ANS (D)

281. One of the features of a free market economy is


(a) public ownership of factors of production
(b) rationing and price control
(c) consumer's sovereignty
(d) active state intervention

ANS (C)

282. Gross National Product – Depreciation Allowance = ?


(a) Gross Domestic Product
(b) Personal Income
(c) Net National Product
(d) Per Capita Income

ANS (C)

283. The Panchayat Samiti remains accountable for its functions to

(a) The Gram Panchayats and Gram Sabhas
(b) Zilla Parishads
(c) Anchal Panchayats
(d) Janpad Panchayats

ANS (B)

284. The one rupee note bears the signature of :


(a) Governor, Reserver Bank of India
(b) Finance Minister
(c) Secretary, Ministry of Finance
(d) None of these

ANS (D)

285. NABARD stands for


(a) National business for Accounting and Reviewing
(b) National Bank for Agriculture and Rural Development
(c) National Bank for Aeronautics and Radar Development
(d) National Bureau for Air and Road Transport

ANS (B)

286. Surplus budget is recommended during :


(a) Depression
(b) Boom
(c) War
(d) Famines

ANS (B)

287. Economic profit or normal profit is the same as :


(a) accounting profit
(b) optimum profit
(c) net profit
(d) maximum profit

ANS (B)

288. CENVAT is related to which of the following ?

(a) Sales Tax
(b) Excise Duty
(c) Custom Duty
(d) Service Tax

ANS (C)

289. Malthusian theory is associated with which of the following ?


(a) Poverty
(b) Employment
(c) Diseases
(d) Population

ANS (D)

290. Which is the parameter for the economic development ?

(a) Per capita monetary income
(b) National income
(c) Per capita rural income
(d) Population

ANS (B)

291. A ‘Market Economy’ is one which


(a) is controlled by the Government
(b) is free from the Government control
(c) in influenced by international market forces
(d) All of these

ANS (B)

292. Regional Rural Banks are sponsored by


(a) Nationalised Commercial Bank
(b) Reserve Bank of India
(c) State Bank of India
(d) Government of India

ANS (A)

293. Who is the Chief Economic Advisor to the Government of India?


(a) Raghu Ram Rajan
(b) Arvind Subramanian
(c) Rajiv Mahirishi
(d) Arvind Pangariya

ANS (B)

294. Which type of foreign investment is considered as unsafe?


(a) Foreign Direct Investment (FDI)
(b) Portfolio investment
(c) NRI deposits
(d) External commercial borrowing

ANS (B)

295. Which one of the following is not an instrument of Fiscal policy? (SSC CGL 1st Sit. 2016

(a) Open Market Operations
(b) Taxation
(c) Public borrowing
(d) Public expenditure

ANS (A)

296. In which of the following market forms, a firm does not exercise control over price?


(a) Monopoly
(b) Perfect competition
(c) Oligopoly
(d) Monopolistic competition

ANS (B)

297. What is the name of portal launched by RBI recently to check illegal money collection?


(a) Sahyog
(b) Sahayata
(c) Sampark
(d) Sachet

ANS (D)

298. Fiscal policy in India is formulated by?


(a) Reserve Bank of India
(b) Planning Commission
(c) Finance Ministry
(d) SEBI

ANS (C)



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300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download 300+ SSC CGL and CHSL Previous Year Economics Questions PDF Download Reviewed by sscradar on July 09, 2019 Rating: 5

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