Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. On the administered price of which of the following articles no subsidy is given?
a. DAP
b. ATF
c. LPG
d. Kerosene oil
Q. Which among the following has the least possibility of globalization?
a. selection of labour force
b. location of capital works
c. to manage resources for investment
d. increase in infrastructure
Q. What was the objective of Command Area Development Programme?
a. To ensure that land is given to the tillers
b. To ensure better utilization of irrigation potential
c. To develop I he areas under the command of Army
d. Poverty alleviation in selected areas
Q. Distribution of food rains operates under a two her system with the introduction of -
a. Targetted Public Distribution System
b. The Consumers Cooperatives
c. The Cooperative Marketing Societies
d. The Service Cooperatives
Q. A favorable Balance of Trade of a country implies that -
a. Imports are greater than Exports
b. Exports are greater than Imports
c. Both Imports and Exports are equal
d. Rising Imports and Falling Exports
Q. 'Quota' is -
a. tax levied on imports
b. imports of capital goods
c. limit on the quantity of imports
d. limit on the quantity of exports
Q. A tax is characterized by horizontal equity if its liability is -
a. proportional to the income of tax payers
b. similar for tax payers in similar circumstances
c. proportional to the expenditure of tax payers
d. the same for every tax payer
Q. What does a Leasing Company provide?
a. Machinery and capital equipment on hire
b. Legal guidance in establishing an enterprise
c. Office accommodation on hire
d. Technical consultancy and experts for a fee
Q. The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into -
a. codification of tax laws
b. the entire structure of tax laws including the question of imposition of bank tax
c. the concerns of the foreign investors in India with regard to taxation matters
d. aspects of generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system
Q. What is dual pricing?
a. Wholesale price and Retail pricing
b. Pricing by agents and Pricing by retailers
c. Price fixed by Government and Price in open market
d. Daily prices and Weekly prices
Q. A tax is said to be regressive when its burden falls -
a. less heavily on the poor than on the rich
b. more heavily on the poor than on the rich
c. equally on the poor as on the rich
d. None of these
Q. Mixed Economy means :
a. Promoting both agriculture and industries in the economy
b. Co-existence of public and private sectors
c. Co-existence of rich and poor
d. Co-existence of small and large industries
Q. When aggregate supply exceeds aggregate demand -
a. unemployment falls
b. prices rise
c. inventories accumulate
d. unemployment develops
Q. Investment is equal to -
a. gross total of all types of physical capital assets
b. gross total of all capital assets minus wear and tear
c. stock of plants, machines and equipments
d. None of these
Q. Which one of the following items is included in the national income account?
a. Services of housewives
b. Income of smugglers
c. Services of Sadhus
d. Services of night-watchmen