Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Full convertibility of a rupeee means -
a. purchase of foreign exchange for rupees freely
b. payment for imports in terms of ruppes
c. repayment of loans in terms of rupees
d. determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply
Q. The term stagflation refers to a situation where -
a. growth has no relation with the change in prices
b. rate of growth and prices both are decreasing
c. rate of growth in faster than the rate of price increase
d. rate of growth is slower than the rate of price increase
Q. What does the letter `e' denotes in the term `e - banking'?
a. Essential Banking
b. Economic Banking
c. Electronic Banking
d. Expansion Banking
Q. The Cash Reserve Ratio is a tool of :
a. Monetary policy
b. Tax policy
c. Agricultural policy
d. Fiscal policy
Q. The 'Interest Rate Policy' is a component of -
a. Fiscal Policy
b. Monetary Policy
c. Trade Policy
d. Direct Control
Q. A mixed economy works primarily through the -
a. market mechanism
b. central allocative machinery
c. market mechanism regulated by Government policy
d. market mechanism guided by Government participation and planning
Q. Which one of the following is the most appropriate reason for Inequalities in Income?
a. Racial factors
b. Lack of opportunities
c. Inheritance from family Environment
d. Differences in Ability
Q. Which one of the following is not included in current revenue of the Union Government?
a. Tax revenue
b. Non-tax revenue
c. Loans
d. interest payments
Q. Which is the parameter for the economic development?
a. Per capita monetary income
b. National income
c. Per capita rural income
d. Population
Q. The supply-side economics lays greater emphasis on -
a. Producer
b. Global economy
c. Consumer
d. Middle Man
Q. Which of the following is not included in the National Income?
a. Imputed rent of owner-occupied houses
b. Government expenditure on making new bridges
c. Winning a lottery
d. Commission paid to an agent for sale of house
Q. Personal disposable income is -
a. always equal to personal income
b. always more than personal income
c. equal to personal income minus indirect taxes
d. equal to personal income minus direct taxes
Q. Depreciation is equal to —
a. Gross national product —Net national product
b. Net national product —Gross national product
c. Gross national product —Personal income
d. Personal income — Personal taxes
Q. National Income Estimates in India are prepared by:
a. National Development Council
b. National Productivity Council
c. National Income Committee
d. Central Statistical Organization
Q. Over short period, when income rises, average propensity to consume usually -
a. rises
b. falls
c. remains constant
d. fluctuates