Economics Questions For SSC GD PDF

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Economics Questions For SSC GD PDF
Economics Questions For SSC GD PDF

Economics Questions For SSC GD PDF

SSC GD Constable Economic Question and Answers download PDF based on previous year question paper of SSC GD exam. 40 Very important Economics questions for GD Constable.

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Question 1: If38 + 15 = 66 and 29 + 36 = 99, then 82 + 44 = ?

a) 77

b) 88

c) 80

d) 94

Question 2: Which of the following is done at a Stock Exchange ?

a) Commodities are bought and sold at wholesale price

b) Commodities are bought and sold at retail price

c) Securities are bought and sold

d) None of these

Question 3: What is an octroi ?

a) Tax

b) Tax collection centre

c) Tax processing centre

d) Tax information centre

Question 4: National Income of India is compiled by

a) Finance Commission

b) Indian Statistical Institute

c) National Development Council

d) Central Statistical Organization

Question 5: 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

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Question 6: Which one of the following is not an instrument of Fiscal policy?

a) Open Market Operations

b) Taxation

c) Public borrowing

d) Public expenditure

Question 7: Which of the following areas make the largest contribution to national income in India?

a) Industry

b) Services

c) Agriculture

d) Mining

Question 8: Lorenz curve shows

a) Inflation

b) Unemployment

c) Income distribution

d) Poverty

Question 9: Which of the following is not a method of estimating national income?

a) Expenditure method

b) Output method

c) Matrix method

d) Income method

Question 10: Which State Government has recently abolished “agriculture income tax”

a) Karnataka

b) Rajasthan

c) Bihar

d) Asssam

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Question 11: Depreciation is loss in value of ________

a) Final goods

b) Machinery

c) Capital stock

d) Stock of inventory

Question 12: The demand of a commodity is a direct demand but the demand of a factor of production is called a

a) Crossed demand

b) Joint demand

c) Derived demand

d) Independent demand

Question 13: When the demand for a good increases with an increase in income, such a good is called___________

a) Superior good

b) Giffin good

c) Inferior good

d) Normal good

Question 14: In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as

a) Disapproval of policy cut

b) Economy cut

c) Vote on Account

d) Token cut

Question 15: Which of the following is not a feature of a capitalist economy?

a) Right to private property

b) Existence of competition

c) Service motive

d) Freedom of choice to consumers

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Question 16: The percent profit made when an article is sold for Rs. 78 is twice as much as when it is sold for Rs. 69, the cost price of the article is?

a) Rs. 60

b) Rs. 51

c) Rs. 55.50

d) Rs. 70

Question 17: The price of a chair is Rs. 500. It has been sold at two succesive discounts of 10% each. What is its selling price?

a) Rs. 400

b) Rs. 405

c) Rs. 415

d) Rs. 425

Question 18: Which one is not the main objective of fiscal policy in India?

a) To increase liquidity in the economy

b) To promote price stability

c) To minimize the inequalities of income & wealth

d) To promote employment opportunity

Question 19: The major objective of monetary policy is to

a) increase government’s tax revenue

b) revamp the Public Distribution System

c) Promote economic growth with price stability

d) weed out corruption in the economy

Question 20: In India which of the following taxes is levied by the State governments?

a) Excise duty on liquor

b) Capital gains tax

c) Customs tax

d) Corporation tax

Question 21: ‘Residex’ is associated with :

a) Share prices

b) Price inflation

c) Mutual fund prices

d) Land prices

Question 22: What will you call a system of taxation under which the poorer sections are taxed at higher rates than the richer sections?

a) Progressive tax

b) Proportional tax

c) Regressive tax

d) Degressive tax

Question 23: Trickle down theory ignores the impact of economic growth on

a) Investment

b) Savings

c) Income distribution

d) Consumption

Question 24: Money market is a market for _______________

a) Short term fund

b) Long term fund

c) Negotiable instruments

d) Sale of shares

Question 25: The GST (Goods and Services Tax), recently passed by Government will be levied on which of the following products?

a) Petroleum Crude

b) Tobacco

c) Natural Gas

d) Aviation Turbine Fuel

Question 26: Among the following States, _________has the lowest birth rate in India.

a) Kerala

b) Uttar Pradesh

c) Bihar

d) West Bengal

Question 27: The short run marginal cost curve is ____ shaped.

a) U

b) V

c) X

d) W

Question 28: If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

a) Perfect Competition

b) Monopoly

c) Oligopoly

d) Monopolistic Competition

Question 29: The average variable cost curve is ____ shaped.

a) U

b) V

c) X

d) W

Question 30: The short run average cost curve is ____ shaped.

a) U

b) V

c) X

d) W

Question 31: Goods for which demand move in the opposite direction of the income of the consumer are called?

a) Inferior goods

b) Normal goods

c) Complementary goods

d) Substitute goods

Question 32: The demand for a inferior good increases with ________ in the consumer’s income.

a) increase

b) decrease

c) constant

d) double

Question 33: Short run marginal cost curve cuts the average variable cost curve from _______ at the minimum point of average variable cost.

a) top

b) below

c) right

d) left

Question 34: The demand for a normal good increases with ________ in the consumer’s income.

a) increase

b) decrease

c) constant

d) double

Question 35: The cost price of an article is x. It is marked up by 120%. It is sold at Rs 8800 after giving 20% discount. What is the value (in Rs) of x?

a) 7680

b) 6000

c) 6680

d) 5000

Question 36: Goods for which the quantity that a consumer chooses, increases as the consumer’s income increases and decreases as the income decreases are called?

a) Inferior goods

b) Normal goods

c) Complementary goods

d) Substitute goods

Question 37: The demand for an inferior good decreases with ________ in the consumer’s income.

a) increase

b) decrease

c) constant

d) double

Question 38: A ___________ deficit is financed by net capital flows from the rest of the world, thus by a capital account surplus.

a) Current Account

b) Savings Account

c) Capital Account

d) Asset Account

Question 39: If at a price, market supply is greater than market demand, we say that there is ________ in the market at that price.

a) Equilibrium

b) Excess Demand

c) Excess Supply

d) Marginal Revenue

Question 40: The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency.

a) Artificial

b) Nominal

c) Fixed

d) Real

Answers & Solutions:

1) Answer (C)

$66=(3+8) \times (1+5)$
$99=(2+9) \times (3+6)$
So $82+44 = (8+2) \times (4+4) =80$

2) Answer (C)

3) Answer (A)

4) Answer (D)

5) Answer (B)

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6) Answer (A)

7) Answer (B)

8) Answer (C)

9) Answer (C)

10) Answer (A)

11) Answer (B)

12) Answer (D)

13) Answer (A)

14) Answer (D)

15) Answer (C)

16) Answer (A)

17) Answer (B)

18) Answer (A)

19) Answer (C)

20) Answer (A)

21) Answer (D)

22) Answer (C)

23) Answer (C)

24) Answer (A)

25) Answer (B)

26) Answer (A)

27) Answer (A)

28) Answer (B)

29) Answer (A)

30) Answer (A)

31) Answer (A)

32) Answer (B)

33) Answer (B)

34) Answer (A)

35) Answer (D)

$\frac{100-20}{100} \times \frac{100+120}{100} \times (x) = 8800$

$\frac{80}{100} \times \frac{220}{100} \times (x) = 8800$

$ x = 8800/(1.76) = 5000$

So the answer is option D.

36) Answer (B)

37) Answer (A)

Increase is the correct word because when people’s income increases, they start looking for superior goods and hence demand for inferior goods decreases.

38) Answer (A)

39) Answer (C)

40) Answer (B)

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We hope this Economics questions for SSC GD will be highly useful for your preparation.

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