Top 550+ Solved Economics (GK) MCQ Questions Answer

a. The cigarette industry

b. The barber shops

c. The gasoline stations

d. Wheat farmers

a. product differentiation

b. multiplicity of prices for identical products at any one time.

c. many sellers and a few buyers.

d. Only one price for identical goods at any one time.

a. Inflation

b. Deflation

c. Stagflation

d. Reflation

a. When a demand is proposed

b. After the discussion on demand is over

c. After the demand is granted

d. When the budget session is close

a. change in income due to change in autonomous investment.

b. change in autonomous investment due to change in income.

c. change in income due to change in consumption.

d. change in the income due to change in induced investment.

a. Low per capita income

b. Welfare programmes

c. Liquidity/ Borrowing constraint

d. High interest rate

a. unchanged Income distribution overall.

b. changed Income distribution in favour of rich.

c. changed Income distribution in favour of poor.

d. changed Income disribution in favour of Industrial Labour.

a. any money making activity

b. any laborious activity

c. any profit-making activity

d. any productive activity

a. GDP minus depreciation allowances

b. GDP plus net income from abroad

c. GNP minus net income from abroad

d. GNP minus depreciation allowances

a. Expenditure method

b. Product method

c. Matrix method

d. Income method

a. Adam Smith

b. J.Saw

c. Marshall

d. Ricardo

a. gross total of all types of physical capital assets

b. gross total of all capital assets minus wear and tear

c. stock of plants, machines and equipments

d. None of the above

a. Local market

b. National market

c. International market

d. Regional market

a. output at factor cost

b. output at market prices

c. goods and services less depreciation

d. goods and services less cost of intermediate goods and services

a. the Agricultural sector

b. the Factory sector

c. the Service sector

d. All these sectors