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SSC CGL CHSL 2018 GK MCQ : Economics Part 1

SSC CGL CHSL 2018 GK MCQ : Economics Part 1

SSC CGL CHSL 2018 GK MCQ : Economics Part 1

Q1. Primary deficit is

(a) Fiscal deficit + Interest payments

(b) Fiscal deficit – interest payments

(c) Total revenue expenditure – total revenue income

(d) None

Q2. Plan expenditure is on higher side indicates

(a) Likely increase in GDP

(b) Likely decrease in GDP

(c) Necessarily higher fiscal deficit

(d) no impact on overall economy

Q3. What is the objective FRBM act 2003?

(a) Higher GDP growth

(b) Fiscal consolidation

(c) decrease in planned expenditure

(d) fulfill the electoral promises

Q4. Which is primarily nongovernmental function?

(a) Fiscal policy

(b) Stabilization measures

(c) Monetary policy

(d) Creating job opportunity

Q5. Decrease in subsidies will lead to

(a) Less capital expenditure

(b) More capital expenditure

(c) Less revenue expenditure

(d) More revenue expenditure

Q6. Which of the following is not the objective of money market?

(a) Reducing the cost of borrowing for short term funds.

(b) Increasing the availability of funds for loan for households.

(c) Arranging funds for working capital for firms.

(d) Facilitating price discovery for household saving.

Q7. How will a reduction in “Bank Rate’ affect the availability of credit?

(a) Credit will increase

(b) Credit will not increase

(c) Credit will decrease

(d) None of these

Q8. A country’s balance of trade is unfavourable when –

(a) exports exceed imports

(b) imports exceed exports

(c) terms of trade become unfavourable

(d) none of these

Q9. A mixed economy works primarily through the

(a) Market mechanism

(b) central allocative machinery

(c) Market mechanism regulated by Government Policy

(d) market mechanism guided by Government participation and planning

Q10. ‘Dear money’ means

(a) low rate of interest

(b) high rate of interest

(c) depression

(d) inflation

Q11. Structural unemployment arises due to

(a) deflationary conditions

(b) heavy industry bias

(c) shortage of raw materials

(d) inadequate productive capacity

Q12. Deficit financing is an instrument of

(a) monetary policy

(b) credit policy

(c) Fiscal policy

(d) Tax policy

Q13. 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

Q14. Agricultural income tax is a source of revenue to

(a) Central Government

(b) State Government

(c) Local Administration

(d) Centre and State Governments

Q15. Commercialization of agriculture implies

(a) Cultivation of timbers

(b) plantation

(c) production of crops for sale

(d) production of crops like wheat or rice

Q16. ISI mark is not given to which of the following products?

(a) Electrical goods

(b) Hosiery goods .

(c) Biscuits

(d) Cloth

Q17. A currency having a falling exchange rate due to continuing balance of payments deficit is called a

(a) Soft currency

(b) Hard currency

(c) Scarce currency

(d) Surplus currency

Q18. Aggregate net value of the output in one year is the

(a) National income at factor cost

(b) Gross Domestic Product at market prices

(c) Net National Product at market prices

(d) Gross National Product at market prices

Q19. The self-employed in a developing country who are engaged in small scale labour intensive work belong to the

(a) Informal sector

(b) Primary sector

(c) Secondary sector

(d) Tertiary sector

Q20. A very high rise in National Income at current market prices and a low rise at constant prices reveals

(a) The high rate of growth in the economy at the current period

(b) the increased production in the current period

(c) the improper growth of the economy

(d) the high rate of inflation prevailing in the economy

Q21. Core Industries are

(a) Basic industries

(b) Consumer goods industries

(c) Capital goods industries

(d) Government industries

Q22. Economic growth is dependent mainly on

(a) level of consumption

(b) price stability

(c) level of investment

(d) population growth

Answer Key
Q Ans Q Ans
1 b 12 c
2 a 13 d
3 b 14 b
4 c 15 c
5 c 16 c
6 b 17 a
7 a 18 c
8 b 19 b
9 d 20 d
10 b 21 a
11 d 22 c


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