Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Which of the following is done at a Stock Exchange?
a. Commodities are bought and sold at wholesale price
b. Commodities are bought and sold at retail price
c. Securities are bought and sold
d. None of these
Q. Indirect tax means :
a. there is not direct relationship between the tax payer and the government.
b. direct relationship between tax payer and the government.
c. tax base is income
d. the incidence and impact are on the same person on whom tax is impose
Q. A short-term government security paper is called -
a. Share
b. Debenture
c. Mutual fund
d. Treasury bill
Q. The existence of a parallel economy or Black Money -
a. makes the economy more competitive
b. makes the monetary policies less effective
c. ensures a better distribution of income and wealth
d. ensures increasing productive investment
Q. he non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are -
a. Explicit costs
b. Original costs
c. Implicit costs
d. Replacement costs
Q. Which of the following subjects does not figure in the Concurrent List of our Constitution?
a. Stock Exchanges and futures markets
b. Protection of wild animals and birds
c. Forests
d. Trade unions
Q. The method of calculating the national income by the product method is otherwise known as :
a. Income method
b. Value added method
c. Expenditure method
d. Net output method
Q. The best measure to assess a country's economic growth is -
a. per capita income at constant prices
b. per capita income at current prices ,
c. gross domestic product at current prices
d. gross national product at current prices
Q. Rate of interest is determined by -
a. The rate of return on the capital invested
b. Central Government
c. Liquidity preference
d. Commercial Banks
Q. The total value of goods and services produced in a country during a given period is -
a. Disposable income
b. National income
c. Per capita income
d. Net national income
Q. Income and consumption are :
a. inversely related
b. directly related
c. partially related
d. unrelate
Q. Which of the following is deducted from GNP to arrive at NNP?
a. Depreciation
b. Interest
c. Tax
d. Subsidy
Q. Regarding money supply situation in India it can be said that the :
a. Currency with the public is inconvertible only.
b. Currency with the public is less than the deposits with the banks.
c. Currency with the public is more than the deposits with the banks.
d. Currency with the public is almost equal to the deposits with banks.
Q. The equilibrium price of a commodity will definitely rise if there is a/an:
a. increase in supply combined with a decrease in demand.
b. increase in both demand and supply.
c. decrease in both demand and supply.
d. increase in demand accompanied by a decrease in supply.