Top 150+ Solved General Economics 2 MCQ Questions Answer
Q. The main model that formed the basis of the strategy of the Second Five Year Plan was formulated by :
a. V.K. R.V. Rao
b. PC. Mahalonobis
c. Dr.Gadgil
d. P.R.Brahamandas
Q. A major shift in the Eighth Five Year Plan from it preceding ones was:
a. The concentration of investment in infrastructural sector
b. Major investment in agriculture with a view to promoting exports
c. Major investment in sectors where industrial sickness has been a chronic problem
d. The significant reduction in public sector outlays
Q. The objective of ‘inclusive growth’ was first used in which of the following plans?
a. First
b. Eighth
c. Tenth
d. Eleventh
Q. Which one of the following is related to the commodity money?
a. Stones
b. Cattles
c. Grains
d. All of the above
Q. Which of the following is not related to commodity money?
a. All commodities were not uniform in quality
b. It is difficult to store and prevent the loss of value
c. They lacked portability
d. There was no problem of coincidence of wants
Q. Which of the following is not correctly matched?
a. Bows and arrows – used as money in the hunting society
b. Cattles – used as money in the pastoral society
c. Grains – used as money by the agricultural society
d. Gold and silver coins – used as money in which the face value is greater
Q. Assertion (A): Necessity led to the invention of money. Reason(R) : Barter system failed to perform the major functions of money.
a. (A) is true but (R) is false.
b. Both (A) and (R) are false
c. Both (A) and (R) are true and (R) is the correct explanation of (A)
d. Both (A) and (R) are true but (R) is not the correct explanation of (A)
Q. Which one of the following is an example of “fiat money?”
a. Precious stones
b. Grains
c. Gold coins
d. Currency notes
Q. In the case of paper currency
a. Intrinsic value and face value are equal
b. Intrinsic value is less than face value
c. Intrinsic value is greater than face value
d. None of the above
Q. Which of the following is a primary function of money?
a. Measure of value
b. Store of value
c. Standard of deferred payments
d. Basis of credit
Q. The most liquid form of all assets is
a. Bonds
b. Debentures
c. Bill of exchange
d. Currency note
Q. In the case of a ‘full bodied money’:
a. Intrinsic value is less than face value
b. Intrinsic value is equal to face value
c. Intrinsic value is greater than face value
d. None of the above
Q. In the case of a ‘token money’
a. Face value is less than the metal value
b. Face value is equal to the metal value
c. Face value is greater than the metal value
d. None of the above