Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Saving is that portion of money income that is -
a. spent for development of Industries
b. not spent on consumption
c. spent on health and education
d. spent for consumer durables
Q. What is the role of "Ombudsman" in a bank?
a. To provide quality and speedy redressal of grievances of customers.
b. To provide suggestions for innovative schemes in the banks.
c. To inspect the internal working of the branches.
d. To monitor the poverty alleviation programmes under-taken by or implemented by the bank.
Q. Which of the following taxes is not collected by the Central Government?
a. Income tax
b. Customs duty
c. Professional tax
d. Excise duty
Q. The permission given to a bank customer to draw cheques in excess of his current account balance is called -
a. a personal loan
b. an ordinary loan
c. discounting a bill of exchange
d. an overdraft
Q. Forced Savings refer to -
a. Reduction of consumption consequent to a rise in prices
b. Taxes on individual income and wealth
c. Compulsory deposits imposed on income tax payers
d. Provident fund contribution of private sector employees
Q. Which of the following is an indirect tax?
a. Capital Gains Tax
b. Excise Duty
c. Wealth Tax
d. Estate Duty
Q. Say's Law of Market holds that -
a. supply is not equal to demand
b. supply creates its own demand
c. demand creates its own supply
d. supply is greater than demand
Q. 'Marginal efficiency of capital' is -
a. expected rate of return on new investment
b. expected rate of return of existing investment
c. difference between rate of profit and rate of interest
d. value of output per unit of capital invested
Q. National Income is the -
a. Net National Product at market price
b. Net National Product at factor cost
c. Net Domestic Product at market price
d. Net domestic Product at factor cost
Q. What is meant by 'Capital Gain'?
a. Part of profits added to the capital
b. Appreciation in the money value of assets
c. Additions to the capital invested in a business
d. None of these
Q. Backward bending supply curve belongs to which market?
a. Capital
b. Labour
c. Money
d. Inventories
Q. Interms of economics, if it is possible to make someone better off without making someone worse off, then the situation is -
a. Inefficient
b. Efficient
c. Optimal
d. Paretosuperior
Q. The theory of distribution relates to which of the following?
a. The distribution of assets
b. The distribution of income
c. The distribution of factor payments
d. Equality in the distribution of the income and wealth
Q. Knowledge, technical skill, education etc. in economics, are regarded as -
a. social-overhead capital
b. human capital
c. tangible physical capital
d. working capital
Q. Purchasing Power Parity theory is related with -
a. Interest rate
b. Bank rate
c. Wage rate
d. Exchange rate