Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Labour Intensive Technique would get chosen in a -
a. Labour Surplus Economy
b. Capital Surplus Economy
c. Developed Economy
d. Developing Economy
Q. When marginal utility is zero, the total utility is -
a. Minimum
b. Increasing
c. Maximum
d. Decreasing
Q. Operating Surplus arises in the -
a. Government Sector
b. Production for self consumption
c. Subsistence farming
d. Enterprise Sector
Q. The definition of 'small-scale industry' in India is based on -
a. sales by the unit
b. Investment In machines and equipments
c. market coverage
d. export capacity
Q. What type of products, does CACP recommend minimum support price for?
a. Industrial products
b. Agricultural products
c. Pharmaceutical products
d. None of the above
Q. Special Economic Zone (SEZ) concept was first introduced in -
a. China
b. Japan
c. India
d. Pakistan
Q. Externality theory is the basic theory of the following branch of Economics:
a. Environomics
b. Fiscal Economics
c. International Economics
d. Macro Economics
Q. The balance of payments of a country is in equilibrium when the -
a. demand as well as supply of the domestic currency are the highest
b. demand for the domestic currency is equal to its supply
c. demand for the domestic currency is the highest
d. demand for the domestic currency is the lowest
Q. Cheap money means -
a. Low rates of interest
b. Low level of saving
c. Low level of income
d. Low level of standard of livtrig
Q. When too much money is chasing too few goods, the situation is -
a. Deflation
b. Inflation
c. Recession
d. Stagflation
Q. Who benefits the most during the inflationary period?
a. corporate servants
b. creditors
c. entrepreneurs
d. government servants
Q. Pegging up of a currency means, fixing the value of a currency -
a. at a constant level
b. at a lower level
c. at a higher level
d. leaving it to market forces
Q. Deficit financing is an instrument of -
a. monetary policy
b. credit policy
c. fiscal policy
d. tax policy
Q. Interest on public, debt is part of -
a. Transfer payments by the enterprises
b. Transfer payments by the government.
c. National income
d. Interest payments by households
Q. The incidence of Tax refers to -
a. Who pays the Tax?
b. Who bears the burden of Tax?
c. How Taxes can be shifted?
d. Who transfers the Tax burden?