SSC GD Constable Economics Question and Answers download PDF based on previous year question paper of SSC GD exam. 40 Very important Economics questions for GD Constable.<\/p>\n
ECONOMICS QUESTIONS FOR SSC GD PDF SET – 2<\/a><\/p>\n GET 20 SSC GD MOCK FOR JUST RS. 117<\/a><\/p>\n FREE SSC EXAM YOUTUBE VIDEOS<\/a><\/p>\n Question 1:\u00a0<\/b>In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ________ signals.<\/p>\n a)\u00a0Supply<\/p>\n b)\u00a0Demand<\/p>\n c)\u00a0Price<\/p>\n d)\u00a0Stock Market<\/p>\n Question 2:\u00a0<\/b>The __________ exchange rate is the relative price of foreign goods in terms of domestic goods.<\/p>\n a)\u00a0Artificial<\/p>\n b)\u00a0Nominal<\/p>\n c)\u00a0Fixed<\/p>\n d)\u00a0Real<\/p>\n Question 3:\u00a0<\/b>Which of the following is represented by ‘Lorenz Curve’?<\/p>\n a)\u00a0Employment<\/p>\n b)\u00a0Inflation<\/p>\n c)\u00a0Deflation<\/p>\n d)\u00a0Income Distribution<\/p>\n Question 4:\u00a0<\/b>In which of the following market forms a firm does not exercise control over price?<\/p>\n a)\u00a0Mixed Competition<\/p>\n b)\u00a0Monopoly<\/p>\n c)\u00a0Oligopoly<\/p>\n d)\u00a0Perfect Competition<\/p>\n Question 5:\u00a0<\/b>Which tax causes a burden on the poorer section of the society?<\/p>\n a)\u00a0Direct Tax<\/p>\n b)\u00a0Indirect Tax<\/p>\n c)\u00a0Both Direct and Indirect Tax<\/p>\n d)\u00a0None of these<\/p>\n SSC GD FREE PREVIOUS PAPERS<\/a><\/p>\n LATEST FREE SSC GD MOCK 2019<\/a><\/p>\n Question 6:\u00a0<\/b>What does indifference curve represent?<\/p>\n a)\u00a0Levels of Income and Capital<\/p>\n b)\u00a0Satisfaction derived from two goods<\/p>\n c)\u00a0Income from two businesses<\/p>\n d)\u00a0Relationship between expenditure and savings<\/p>\n Question 7:\u00a0<\/b>Which of the following equation is\/are INCORRECT? I. NI = NDP + Net Foreign Income a)\u00a0Only (I) and (II)<\/p>\n b)\u00a0Only (III)<\/p>\n c)\u00a0Only (II) and (III)<\/p>\n d)\u00a0Only (II)<\/p>\n Question 8:\u00a0<\/b>Which among the following is not an instrument of fiscal policy?<\/p>\n a)\u00a0Taxation<\/p>\n b)\u00a0Public expenditure<\/p>\n c)\u00a0Public debt<\/p>\n d)\u00a0Credit Rationing<\/p>\n Question 9:\u00a0<\/b>India recently notified the Third protocol to amend Double Taxation Avoidance Agreement with which of the following countries?<\/p>\n a)\u00a0China<\/p>\n b)\u00a0Vietnam<\/p>\n c)\u00a0Singapore<\/p>\n d)\u00a0Malaysia<\/p>\n Question 10:\u00a0<\/b>Which among the following is not a direct tax?<\/p>\n a)\u00a0Income tax<\/p>\n b)\u00a0Wealth tax<\/p>\n c)\u00a0Corporate tax<\/p>\n d)\u00a0None of these<\/p>\n DOWNLOAD APP TO ACESS DIRECTLY ON MOBILE<\/a><\/p>\n Question 11:\u00a0<\/b>An economic system combining private and state enterprise is called as _____<\/p>\n a)\u00a0Market economy<\/p>\n b)\u00a0Centrally planned economy<\/p>\n c)\u00a0Private economy<\/p>\n d)\u00a0Mixed economy<\/p>\n Question 12:\u00a0<\/b>Which among the following is an example of micro-economic variable?<\/p>\n a)\u00a0National Income<\/p>\n b)\u00a0Aggregate Supply<\/p>\n c)\u00a0Employment<\/p>\n d)\u00a0Consumer’s Equilibrium<\/p>\n Question 13:\u00a0<\/b>Which one of the following is not an instrument of credit control in India?<\/p>\n a)\u00a0Rationing of credit<\/p>\n b)\u00a0Direct Action<\/p>\n c)\u00a0Open Market operations<\/p>\n d)\u00a0Variable cost reserve ratios<\/p>\n Question 14:\u00a0<\/b>Which among the following is not an account under Balance of Payment?<\/p>\n a)\u00a0Current Account<\/p>\n b)\u00a0Capital Account<\/p>\n c)\u00a0Official Reserves Account<\/p>\n d)\u00a0Unilateral Payments Account<\/p>\n Question 15:\u00a0<\/b>India Paper currency started in?<\/p>\n a)\u00a01860<\/p>\n b)\u00a01861<\/p>\n c)\u00a01862<\/p>\n d)\u00a01863<\/p>\n FREE SSC PRACTICE SET (DAILY TEST)<\/a><\/p>\n SSC CGL Free Mock Test<\/a><\/p>\n Question 16:\u00a0<\/b>Who has written the book” Capital & Growth”?<\/p>\n a)\u00a0A.R Rodon<\/p>\n b)\u00a0Hicks<\/p>\n c)\u00a0Adam Smith<\/p>\n d)\u00a0Marshall<\/p>\n Question 17:\u00a0<\/b>Who is called the \u2018Father of Economics\u2019?<\/p>\n a)\u00a0Adam Smith<\/p>\n b)\u00a0Karl Marx<\/p>\n c)\u00a0Max Muller<\/p>\n d)\u00a0Winston Churchill<\/p>\n Question 18:\u00a0<\/b>Which of the following is a direct tax?<\/p>\n a)\u00a0Excise duty<\/p>\n b)\u00a0Sales Tax<\/p>\n c)\u00a0Income Tax<\/p>\n d)\u00a0VAT<\/p>\n Question 19:\u00a0<\/b>According to the classical system, Saving is a function of?<\/p>\n a)\u00a0Income<\/p>\n b)\u00a0Interest rate<\/p>\n c)\u00a0Real wage<\/p>\n d)\u00a0Price Level<\/p>\n Question 20:\u00a0<\/b>Which term is not related to banking?<\/p>\n a)\u00a0CRR<\/p>\n b)\u00a0NEER<\/p>\n c)\u00a0SLR<\/p>\n d)\u00a0Fixed Deposit<\/p>\n Question 21:\u00a0<\/b>Debenture holder of a company is its?<\/p>\n a)\u00a0Share holders<\/p>\n b)\u00a0Creditors<\/p>\n c)\u00a0Debtors<\/p>\n d)\u00a0Directors<\/p>\n Question 22:\u00a0<\/b>The bank cheques are processed by using?<\/p>\n a)\u00a0OCR<\/p>\n b)\u00a0MICR<\/p>\n c)\u00a0OMR<\/p>\n d)\u00a0PMR<\/p>\n Question 23:\u00a0<\/b>Banks in India were nationalised for the first time in the year?<\/p>\n a)\u00a01950<\/p>\n b)\u00a01960<\/p>\n c)\u00a01969<\/p>\n d)\u00a01979<\/p>\n Question 24:\u00a0<\/b>The period of the 11th five-year plan is?<\/p>\n a)\u00a02005 to 2010<\/p>\n b)\u00a02006 to 2011<\/p>\n c)\u00a02007 to 2012<\/p>\n d)\u00a02008 to 2013<\/p>\n Question 25:\u00a0<\/b>Which plan emphasized removal of poverty for the first time?<\/p>\n a)\u00a04th<\/p>\n b)\u00a05th<\/p>\n c)\u00a06th<\/p>\n d)\u00a07th<\/p>\n Question 26:\u00a0<\/b>The planning commission of India was constituted in which year?<\/p>\n a)\u00a01942<\/p>\n b)\u00a01947<\/p>\n c)\u00a01955<\/p>\n d)\u00a01950<\/p>\n Question 27:\u00a0<\/b>Which of the following is apex bank for industrial loans?<\/p>\n a)\u00a0RBI<\/p>\n b)\u00a0NABARD<\/p>\n c)\u00a0ICICI<\/p>\n d)\u00a0IDBI<\/p>\n Question 28:\u00a0<\/b>Insurance sector in India is regulated by?<\/p>\n a)\u00a0RBI<\/p>\n b)\u00a0CII<\/p>\n c)\u00a0IRDA<\/p>\n d)\u00a0SEBI<\/p>\n Question 29:\u00a0<\/b>RBI does not transact the business of which of the following state government?<\/p>\n a)\u00a0Nagaland<\/p>\n b)\u00a0Assam<\/p>\n c)\u00a0J & K<\/p>\n d)\u00a0Rajasthan<\/p>\n Question 30:\u00a0<\/b>Parallel economy emerges due to?<\/p>\n a)\u00a0Tax Avoidance<\/p>\n b)\u00a0Tax Evasion<\/p>\n c)\u00a0Tax Compliance<\/p>\n d)\u00a0Tax Estimation<\/p>\n Question 31:\u00a0<\/b>Indirect taxes by nature are?<\/p>\n a)\u00a0Degressive<\/p>\n b)\u00a0Regressive<\/p>\n c)\u00a0Progressive<\/p>\n d)\u00a0Proportional<\/p>\n Question 32:\u00a0<\/b>A taxation is a tool of?<\/p>\n a)\u00a0Monetary policy<\/p>\n b)\u00a0Fiscal policy<\/p>\n c)\u00a0Price policy<\/p>\n d)\u00a0Wage policy<\/p>\n Question 33:\u00a0<\/b>The term stagflation refers to a situation?<\/p>\n a)\u00a0Growth has no relation to the change in price<\/p>\n b)\u00a0Rate of growth and prices both are decreasing<\/p>\n c)\u00a0Rate of growth is faster than the rate of price increase<\/p>\n d)\u00a0Rate of growth is slower than the rate of price increase<\/p>\n Question 34:\u00a0<\/b>Which of the following group suffer the most during inflation?<\/p>\n a)\u00a0Debtors<\/p>\n b)\u00a0Creditors<\/p>\n c)\u00a0Business class<\/p>\n d)\u00a0Holders of real assets<\/p>\n Question 35:\u00a0<\/b>‘Neo-Malthusian Theory’ is associated with which of the following?<\/p>\n a)\u00a0Employment<\/p>\n b)\u00a0Poverty<\/p>\n c)\u00a0Resource scarcity<\/p>\n d)\u00a0Income<\/p>\n Question 36:\u00a0<\/b>Which one of the following is a component of Food Security System?<\/p>\n a)\u00a0Buffer stock<\/p>\n b)\u00a0Minimum support price<\/p>\n c)\u00a0Fair price shops<\/p>\n d)\u00a0Mid day meals<\/p>\n Question 37:\u00a0<\/b>Balance of Trade is the difference between<\/p>\n a)\u00a0Country’s Income and Expense<\/p>\n b)\u00a0Country’s Exports and Imports<\/p>\n c)\u00a0Country’s Tax Revenue and Expense<\/p>\n d)\u00a0Country’s capital inflow and outflow<\/p>\n Question 38:\u00a0<\/b>If demand curve for a fishing rod is D = 37000 – 11P and supply curve is S = 12000 + 9P, find the equilibrium quantity?<\/p>\n a)\u00a01250 units<\/p>\n b)\u00a023250 units<\/p>\n c)\u00a052350 units<\/p>\n d)\u00a02500 units<\/p>\n Question 39:\u00a0<\/b>Stagflation is defined as<\/p>\n a)\u00a0low inflation, low growth, low unemployment<\/p>\n b)\u00a0high inflation, low growth, high unemployment<\/p>\n c)\u00a0high inflation, high growth, high unemployment<\/p>\n d)\u00a0low inflation, high growth, low unemployment<\/p>\n Question 40:\u00a0<\/b>A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then all other women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is<\/p>\n a)\u00a0Rs. 600<\/p>\n b)\u00a0Rs. 50<\/p>\n c)\u00a0Rs. 300<\/p>\n d)\u00a0Rs. 100<\/p>\n Answers & Solutions:<\/strong><\/span><\/p>\n 1)\u00a0Answer\u00a0(C)<\/strong><\/p>\n 2)\u00a0Answer\u00a0(D)<\/strong><\/p>\n 3)\u00a0Answer\u00a0(D)<\/strong><\/p>\n
\nII. GNP = GDP + Net Foreign Income
\nIII. NDP = GNP – Depreciation<\/p>\n