Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. According to the classical system, saving is a function of -
a. Income
b. The interest rate
c. The real wage
d. The Price level
Q. Which of the following concepts are most closely associated with J.M. Keynes?
a. Control of money supply
b. Marginal utility theory
c. Indifference curve analysis
d. Marginal efficiency of captial
Q. When the total product rises at an increasing rate, the -
a. marginal product is zero
b. marginal product is rising
c. marginal product is falling
d. marginal product remains constant
Q. If an industry is characterized by economies of scale then -
a. barriers to entry are not very large
b. long run unit costs of production decreases as the quantity the firm produces increases
c. capital requirement are small due to the efficiency of the large scale operation
d. the costs of entry into the market are likely to be substantial
Q. Movement along the same demand curve is know as -
a. Extension and Contraction of Demand
b. Increase and Decrease of Demand
c. Contraction of supply
d. Increase of supply
Q. What are gilt-edged securities?
a. Securities issued by the multinational companies.
b. Securities issued by the Government
c. Securities issued by the private sector
d. Securities issued by the joint venture companies
Q. Which curve shows the inverse relationship between unemployment and inflation rates?
a. Supply curve
b. Indifference curve
c. IS curve
d. Phillips curve
Q. Collective consumption means -
a. household consumption
b. individual consumption
c. self-consumption
d. consumption by the citizens of the country
Q. The market equilibrium for a commodity is determined by :
a. The market supply of the commodity.
b. The balancing of the forces of demand and supply for the commodity
c. (3) The intervention of the Government.(4)
d. The market demand of the commodity.
Q. Which of the following would not constitute an economic activity in Economics?
a. A teacher teaching students in his college
b. A teacher teaching students in a coaching institute
c. A teacher teaching his own daughter at home
d. A teacher teaching students under Sarva Shiksha Abbiyan Scheme
Q. Which one of the following is not included while estimating national income through income method?
a. Rent
b. Mixed incomes
c. Pension
d. Undistributed profits
Q. Who defined investment as "the construction of a new capital asset like machinery or factory building"?
a. Hansen
b. J.M. Keynes
c. Harrod
d. J.R. Hicks
Q. An individual's actual standard of living can be assessed by -
a. Gross National Income
b. Net National Income
c. Per Capita Income
d. Disposable Personal Income
Q. The standard of living in a country is represented by its:
a. poverty ratio
b. per capita income
c. national income
d. unemployment rate
Q. Capital output ratio of a commodity measures -
a. its per unit cost of production
b. the amount of capital invested per unit of output
c. the ratio of capital depreciation to quantity of output
d. the ratio of working capital employed to quantity of output