Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. The demand of a commodity is a direct demand but the demand of a factor of production is called a -
a. Crossed demand
b. Joint demand
c. Derived demand
d. Independent demand
Q. Depreciation is loss in value of .
a. Final goods
b. Machinery
c. Capital stock
d. Stock of inventory
Q. When income increase, consumption also increases :
a. in a lower proportion
b. in a higher proportion
c. in the same proportion
d. None of the options
Q. A camera in the hands of a professional photographer is a good.
a. Free
b. Intermediary
c. Consumer
d. Capital
Q. The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs -
a. J.M.Keynes
b. Ohlin
c. J. B. Say
d. Galbraith
Q. Liquidity Preference means -
a. holding assets in the form of bonds and shares
b. holding assets in the form of cash
c. creation of immovable property
d. assets in the form of jewellery
Q. Aggregate net value of the output in one year is the -
a. National income at factor cost
b. Gross Domestic Product at market prices
c. Net. National Product at market prices
d. Gross National Product at market prices
Q. The sum total of incomes received for the services of labour, land or capital in a country is called
a. Gross domestic product
b. National income
c. Gross domestic income
d. Gross national income
Q. Which of the following results by dividing national income by size of population?
a. Per capita income
b. Subsistence level
c. Subsistence expenditure-
d. Per capita production
Q. Malthusian theory of population explored the relationship between -
a. food supply and technology
b. food supply and population growth
c. population growth and development
d. optimum growth and resources
Q. In public budgets, zero-base budgeting was first introduced in -
a. USA
b. UK
c. France
d. Sweden
Q. The sale proceeds of Government Bonds come under the budget head of -
a. Revenue Receipts
b. Current Expenditure
c. Capital Outlay
d. Capital Receipts
Q. The incidence of sales tax falls on -
a. Consumers
b. Wholesale dealers
c. Retail dealers
d. Producers