# SSC JE Economics Questions

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## SSC JE Economics Questions

Download SSC JE Economics Questions PDF. Top 20 SSC JE questions based on asked questions in previous exam papers very important for the SSC exam.

Question 1: The Union Government in 2007 reduced the customs duty on crude and refined palm oil by percentage points to check rising prices of these edible oils and contain inflation.

a) 4

b) 6

c) 8

d) 10

e) None of these

Question 2: Shri Manohar Gopalkrishna Prabhu Parikaris the Union Cabinet Minister for

a) Railways

b) Law and Justice

c) Mines and steel

d) Defence

e) Civil aviation

Question 3: The Company ‘Associated Journals Ltd’ (AJL) is the publisher of which now defunct daily newspaper?

a) Young India

b) The Independent

c) Amrita Bazar Patrika

d) The National Herald

e) Bombay Chronicle

Question 4: As per figures released recently, the GDP growth in the last two years has been in the range of:

a) 6%-7%

b) 7%-8%

c) 8%-9%

d) 9%-9.5%

e) 10%-11%

Question 5: Consider the following statements related to Brazil:
i. Brazil’s GDP is higher than Italy’s GDP.
ii. Dilma Rouseff was elected as President of Brazil.
iii. Maracana stadium hosted world cup football final.
iv. Of all of Brazil’s neighbours, Argentina has the longest border.
v. Real is the currency of Brazil.

Which of the following options does not contain false statement (s) related to Brazil?

a) i, ii, iii, iv

b) i, ii, iv, v

c) i, iii, iv, v

d) i, ii, iii, v

e) ii, iii, iv, v

Question 6: Which of the following terms is used in economics to describe a situation where an inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high?

a) Devaluation

b) Stagflation

c) Depreciation

d) Recession

e) Depression

Question 7: A tax is characterised by horizontal equity if its liability is?

a) Proportional to Income Tax payers

b) Similar to taxpayers in similar circumstances

c) Proportional to the expenditure of tax payers

d) The same for every Tax payer

Question 8: Which of the following will cause an increase in demand for a good?

a) an increase in income if the good is an inferior goods

b) a decrease in the price of the goods

c) a decrease in income if the good is a normal goods

d) an increase in the price of its substitute goods

Question 9: If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find Arc
Income elasticity of demand?

a) 1.45

b) 0.55

c) 2

d) 1.25

Question 10: If the average total cost are Rs 2400, average variable cost is Rs 1700 and quantity produced is 75 units, find the total fixed costs of the firm?

a) Rs 52500

b) Rs 127500

c) Rs 180000

d) Rs 60000

Question 11: At the equilibrium price

a) quantity demanded is equal to quantity supplied

b) quantity demanded is greater than quantity supplied

c) elasticity of demand equals elasticity of supply

d) price elasticity of demand is unity

Question 12: Find arc elasticity of demand, if quantity demanded falls from 1000 to 950 when price of the item is increased from Rs. 240 to Rs. 280?

a) 0.33

b) 0.3

c) -0.3

d) -0.33

Question 13: ‘Neo-Malthusian Theory’ is associated with which issue?

a) Employment

b) Poverty

c) Resource scarcity

d) Income

Question 14: Which of the following is called GDP Deflator?

a) Ratio of nominal to real GDP

b) Ratio of nominal to real GNP

c) Ratio of nominal to real CPI

d) Ratio of real to nominal GNP

Question 15: 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 16: 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 17: National Income of India is compiled by which institute?

a) Finance Commission

b) Indian Statistical Institute

c) National Development Council

d) Central Statistical Organization

Question 18: National Income is generated from

a) any money-making activity

b) any laborious activity

c) any profit-making activity

d) any productive activity

Question 19: In which of the following Five Year Plan was the growth rate target exceeded?

a) Eighth Five Year Plan

b) Ninth Five Year Plan

c) Tenth Five Year Plan

d) Eleventh Five Year Plan

Question 20: Which ﬁve year plan aimed at following regional approach, instead of a sectoral approach so as to bring down regional inequalities?

a) Ninth Five year plan

b) Eighth Five year plan

c) Tenth Five year plan

d) Eleventh Five year plan

Increasing the price of its substitute goods will increase the demand for a good. While, a decrease in the price of the goods cause an increase in quantity demanded, not an increase in demand.

=> Ans – (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.