1. Formalised system of trading agreements with groups of countries is known as (SSC CGL 1st Sit. 2010)
- (a) Trading blocks
- (b) Trade ventures
- (c) Trade partners
- (d) Trade organisations
ANS (A)
2. Depression formed due to deflating action of winds are called (SSC CGL 1st Sit. 2010)
- (a) Playas
- (b) Yardang
- (c) Ventifacts
- (d) Sand dunes
ANS (B)
3. Which one of the following is not a method of estimating National Income ? (SSC CGL 1st Sit. 2010)
- (a) Expenditure method
- (b) Product method
- (c) Matrix method
- (d) Income method
ANS (C)
4. The monetary policy is India is formulated by (SSC CGL 1st Sit. 2010)
- (a) Central Government
- (b) Industrial Financial Corporation of India
- (c) Reserve Bank of India
- (d) Industrial Development Bank of India
ANS (C)
5. A short-term government security paper is called (SSC CGL 1st Sit. 2010)
- (a) Share
- (b) Debenture
- (c) Mutual fund
- (d) Treasury bill
ANS (D)
6. WTO basically promotes (SSC CGL 1st Sit. 2010)
- (a) Financial support
- (b) Global peace
- (c) Unilateral trade
- (d) Multilateral trade
ANS (D)
7.Under which market condition do firms have excess capacity? (SSC CGL 1st Sit. 2010)
- (a) Perfect competition
- (b) Monopolistic competition
- (c) Duopoly
- (d) Oligopoly
ANS (B)
8. Price theory is also known as (SSC CGL 1st Sit. 2010)
- (a) Macro Economics
- (b) Development Economics
- (c) Public Economics
- (d) Micro Economics
ANS (D)
9. At present, India is following (SSC CGL 1st Sit. 2010)
- (a) Fixed exchange rate
- (b) Floating exchange rate
- (c) Pegged up exchange rate
- (d) Pegged down exchange rate
ANS (B)
10. National Income is the (SSC CGL 1st Sit. 2010)
- (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)
11.Which among the following agencies released the report, Economic Outlook for 2009–10 ? (SSC CGL 2nd Sit. 2010)
- (a) Planning Commission
- (b) PM's Economic Advisory Council
- (c) Finance Commission
- (d) Reserve Bank of India
ANS (B)
12. India and U.S. have decided to finalise agreements related to which of the following ? (SSC CGL 2nd Sit. 2010)
- (a) Trade and Investment
- (b) Intellectual Property
- (c) Traditional Knowledge
- (d) All of the above
ANS (D)
13. The exchange of commodities between two countries is referred as (SSC CGL 2nd Sit. 2010)
- (a) Balance of trade
- (b) Bilateral trade
- (c) Volume of trade
- (d) Multilateral trade
ANS (C)
14. A want becomes a demand only when it is backed by the (SSC CGL 2nd Sit. 2010)
- (a) Ability to purchase
- (b) Necessity to buy
- (c) Desire to buy
- (d) Utility of the product
ANS (D)
15. The terms 'Micro Economics' and "Macro Economics" were coined by (SSC CGL 2nd Sit. 2010)
- (a) Alfred Marshall
- (b) Ragner Nurkse
- (c) Ragner Frisch
- (d) J.M. Keynes
ANS (D)
16. During periods of inflation, tax rates should (SSC CGL 2nd Sit. 2010)
- (a) increase
- (b) decrease
- (c) remain constant
- (d) fluctuate
ANS (A)
17. Which is the biggest tax paying sector in India ? (SSC CGL 2nd Sit. 2010)
- (a) Agriculture sector
- (b) Industrial sector
- (c) Transport sector
- (d) Banking sector
ANS (B)
18. "Economics is what it ought to be" – This statement refers to (SSC CGL 2nd Sit. 2010)
- (a) Normative economics
- (b) Positive economics
- (c) Monetary economics
- (d) Fiscal economics
ANS (A)
19. The excess of price a person is to pay rather than forego the consumption of the commodity is called (SSC CGL 2nd Sit. 2010)
- (a) Price
- (b) Profit
- (c) Producer's surplus
- (d) Consumer's surplus
ANS (C)
20. When there is an official change in the exchange rate of domestic currency, then it is called: (SSC CGL 1st Sit. 2011)
- (a) Appreciation
- (b) Depreciation
- (c) Revaluation
- (d) Deflation
ANS (C)
21. Inflation redistributes income and wealth in favour of: (SSC CGL 1st Sit. 2011)
- (a) Pensioners
- (b) Poor
- (c) Middle class
- (d) Rich
ANS (D)
22. The fringe benefit tax was introduced in the budget of (SSC CGL 1st Sit. 2011)
- (a) 2003-04
- (b) 2004-05
- (c) 2005-06
- (d) 2006-07
ANS (C)
23. The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called (SSC CGL 2nd Sit. 2011)
- (a) Foreign Direct Investment
- (b) Portfolio Investment
- (c) NRI Investment
- (d) Foreign Indirect Investment
ANS (D)
24. Monopolist resorts to price discrimination depending upon the (SSC CGL 1st Sit. 2012)
- (a) Elasticity of supply
- (b) Elasticity of demand
- (c) Law of demand
- (d) Law of supply
ANS (B)
25. Economic planning is an essential feature of (SSC CGL 1st Sit. 2012)
- (a) Socialist economy
- (b) Capitalist economy
- (c) Mixed economy
- (d) Dual economy
ANS (A)
26. The Rashtriya Barh Ayog (RBA) is related with (SSC CGL 1st Sit. 2012)
- (a) Droughts and Floods
- (b) Poverty Alleviation
- (c) Floods
- (d) Disaster Management
ANS (C)
27. Low cost housing is an example for: (SSC CGL 2nd Sit. 2012)
- (a) Mixed wants
- (b) Social wants
- (c) Private wants
- (d) Merit wants
ANS (D)
28. Consumption for the sake of enjoying social acknowledgement is called: (SSC CGL 2nd Sit. 2012)
- (a) Rational consumption
- (b) Social consumption
- (c) Conspicuous consumption
- (d) Demonstration consumption
ANS (C)
29. Of the following economists, whom do you consider to be the Master of “Partial Analysis”? (SSC CGL 2nd Sit. 2012)
- (a) Leon Walras
- (b) Alfred Marshall
- (c) J. M. Keynes
- (d) Lionel Robbins
ANS (B)
30. India making ‘Double Taxation Avoidance Agreements’(DTAA) with other countries for the promotion of: (SSC CGL 2nd Sit. 2012)
- (a) Bilateral trade
- (b) External commercial borrowings
- (c) Foreign direct investments
- (d) Foreign institutional investment
ANS (A)
