Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Taxes on professions can be levied by :
a. State government only
b. both by state and union government
c. by panchayats only
d. Union government only
Q. A part of National Debt known as External Debt is the amount -
a. borrowed by its citizens from abroad
b. lent by its citizens to foreign governments
c. borrowed by its government from abroad
d. lent by its government to foreign government
Q. Which of the following is not considered as National Debt?
a. National Savings Certificates
b. Long-term Government Bonds
c. Insurance Policies
d. Provident Fund
Q. Disinvestments is -
a. offloading of shares of privates companies to government
b. offloading of government shares to private companies
c. increase in investment
d. closing down of business concerns
Q. Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes -
a. a fall in prices of output and resources
b. a fall in real gross National product and employment
c. a rise in real gross National product and investment
d. a rise in prices of output and resources
Q. The theory of "Maximum Social Advantage" in Public Finance Was given by
a. Robbins
b. Musgrave
c. Findley
d. Dalten
Q. Taxes are as certain as the death, because -
a. They constitute the major source of government revenue.
b. Government have no other source of revenue.
c. Most PSUs are run inefficiently.
d. Government has its own budget constraints.
Q. In the context of the stock market, IPO stands for -
a. Immediate Payment Order
b. Internal Policy Obligation
c. Initial Public Offer
d. International Payment Obligation
Q. Disinvestment in Public Sector is called
a. Liberalisation
b. Globalisation
c. Industrialisation
d. Privatisation
Q. Which one of the following is NOT an example of indirect tax?
a. Sales tax
b. Excise duty
c. Customs duty
d. Expenditure tax
Q. Interest on public debt is a part of :
a. transfer payments by the enterprises
b. transfer payments by the Govt.
c. national income
d. interest payments by households
Q. A speculator who sells stocks, in order to buy back when price falls, for gain is a -
a. Bull
b. Bear
c. Boar
d. Bison
Q. Inflation can be checked by -
a. increasing exports
b. increasing money supply
c. increasing Government expenditure
d. decreasing money supply
Q. Gresham's Law means -
a. Good money replaces bad money in circulation
b. Bad money replaces good money in circulation
c. Good money promotes bad money in the system
d. Bad money promotes good money in the system