Economics Questions for SSC & Railway Exam 2018: 4th June (with Video Solution)




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Q1. Which among the following statements is not true when there is an increase in interest rate in an economy?
एक अर्थव्यवस्था में ब्याज दर में वृद्धि होने पर निम्नलिखित में से कौन सा कथन सत्य नहीं होता है?
(a) increase in saving /बचत में वृद्धि
(b) decrease in loan /ऋण में कमी
(c) increase in production cost /उत्पादन लागत में वृद्धि
(d) increase in capital return /पूंजीगत लाभ में वृद्धि
Show Answer
Ans.(d)
Sol. Interest rate increase the cost of borrowing, which results in lesser investment activity and the purchase of consumer durables. In a low interest-rate environment, shares become a more attractive buy, raising households’ financial assets.


Q2. Multiplier process in economic theory is conventionally taken to mean:
आर्थिक सिद्धांत में गुणक प्रक्रिया का पारंपरिक रूप से अर्थ है:
(a) the manner in which prices increase/ जिस तरह से कीमतें बढ़ती हैं

(b) the manner in which banks create credit// जिस तरीके से बैंक क्रेडिट बनाते हैं
(c) income of an economy grows on account of an initial investment /एक प्रारंभिक निवेश के कारण अर्थव्यवस्था की आय बढ़ती है
(d) the manner in which government expenditure increases/ जिस तरह से सरकारी व्यय बढ़ता है
Show Answer
Ans.(c)
Sol. In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable change in response to a change in some exogenous variable. 

Q3. Who said ‘Supply creates its own demand’?
किसने कहा कि 'आपूर्ति अपनी मांग स्वयं उत्पन्न करती है'?
(a) Adam Smith/ एडम स्मिथ
(b) J. B. Say /जे.बी. से
(c) Marshall/ मार्शल
(d) Ricardo/ रिकार्डो
Show Answer
Ans.(b)
Sol. “Supply creates its own demand” is the formulation of Say’s law . The rejection of this doctrine is a central component of the General Theory off Employment, Interest and Money (1936) and a central tenet of Keynesian economics.

Q4. Say’s Law of Market holds that 
बाजार का नियम कहता है कि-
(a) supply is not equal to demand /आपूर्ति मांग के बराबर नहीं होती है
(b) supply creates its own demand/ आपूर्ति अपनी मांग स्वयं उत्पन्न करती है
(c) demand creates its own supply/ मांग अपनी आपूर्ति स्वयं उत्पन्न करती है
(d) supply is greater than demand /आपूर्ति मांग से अधिक होती है
Show Answer
Ans.(b)
Sol. Say's law, or the law of markets, states that aggregate production necessarily creates an equal quantity of aggregate demand.


Q5. The standard of living in a country is represented by its:
किसी देश में जीवन स्तर, किसका प्रतिनिधित्व करता है?
(a) poverty ratio/ गरीबी अनुपात
(b) per capita income /प्रति व्यक्ति आय
(c) national income /राष्ट्रीय आय
(d) unemployment rate/ बेरोजगारी दर
Show Answer
Ans.(b)
Sol. Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population.


Q6.The method of calculating the national income are-
   राष्ट्रीय आय की गणना करने की विधि-
(a) Income method /आय विधि
(b) Value added method /मूल्य वर्धित विधि
(c) Expenditure method /व्यय विधि
(d) All the above/ उपर्युक्त सभी
Show Answer
Ans.(d)
Sol. Primarily there are three methods of measuring national income. Which method is to be employed depends on the availability of data and purpose. The methods are product method, income method and expenditure method.

Q7. Which of the following concepts are most closely associated with J. M. Keynes?
निम्नलिखित में से कौन सी अवधारणाएं जे.एम. केनेस के सबसे निकट हैं?
(a) Control of money supply/ मुद्रा आपूर्ति का नियंत्रण
(b) Marginal utility theory /सीमांत उपयोगिता सिद्धांत
(c) Indifference curve analysis/ उदासीनता वक्र विश्लेषण
(d) Marginal efficiency of capital /पूंजी की सीमांत दक्षता
Show Answer
Ans.(d)
Sol. The marginal efficiency off capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted value of expected income. The term “marginal efficiency of capital” was introduced by John Maynard Keynes in his General Theory.

Q8. When aggregate supply exceeds aggregate demand
जब सकल आपूर्ति सकल मांग से अधिक हो जाती है, तो -
(a) unemployment falls/ बेरोजगारी गिरती है
(b) prices rise /कीमतों में वृद्धि
(c) inventories accumulate/ सूची संग्रह
(d) unemployment develops/ बेरोजगारी विकसित होती है
Show Answer
Ans.(c)
Sol. Deflation sets in when aggregate supply exceeds aggregate demand. Recession sets in. This will lead to a buildup in stocks (inventories) and this sends a signal to producers either to cut prices (to stimulate an increase in demand) or to reduce output so as to reduce the buildup of excess stocks. 

Q9. In a business, raw materials, components, work in progress and finished goods are jointly regarded as
एक व्यवसाय में, कच्चा माल, घटकों,  कार्य प्रगति पर होना तथा तैयार माल को संयुक्त रूप से क्या माना जाता है?
(a) capital stock /पूंजीगत स्टॉक
(b) inventory /सूची (स्टॉक)
(c) investment/ निवेश
(d) net worth/ शुद्ध मूल्य
Show Answer
Ans.(b)
Sol. Inventory refers to raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business’s assets that are ready or will be ready for sale.

Q10. Investment and savings are kept equal through a change in the level of
निवेश और बचत को किसके स्तर में बदलाव के माध्यम से बराबर रखा जाता है?
(a) Consumption/ खपत
(b) Investment/ निवेश
(c) Government expenditure/ सरकारी व्यय
(d) Income/ आय
Show Answer
Ans.(a)
Sol. Desired savings are kept equal to desired investment by responses to interest rate changes. Savings identity or the savings investment identity is a concept in National Income Accounting stating that the amount saved (S) in an economy will be amount invested (I). 

Q11. The sum total of incomes received for the services of labour, land or capital in a country is called:
किसी देश में श्रम, भूमि या पूंजी की सेवाओं के लिए प्राप्त आय की कुल राशि को कहा जाता है:
(a) Gross domestic product/ सकल घरेलू उत्पाद
(b) National income/ राष्ट्रीय आय
(c) Gross domestic income/ सकल घरेलू आय
(d) Gross national income/ सकल राष्ट्रीय आय
Show Answer
Ans.(b)
Sol. The income method of calculating national income takes into account the income generated from the basic factors of production. These include the land, labor, capital, and organization

Q12. While determining income the expenditure on which of the following items is not considered as investment?
आय का निर्धारण करते समय निम्नलिखित मदों में से किसमे व्यय को निवेश के रूप में नहीं माना जाता है?
(a) Construction of factory/ कारखाने का निर्माण
(b) Computer/ कंप्यूटर
(c) Increase in the stock of unsold articles/ न बिकी वस्तुओं के स्टॉक में वृद्धि
(d) Stock and share in joint stock company /संयुक्त स्टॉक कंपनी में स्टॉक और शेयर
Show Answer
Ans.(c)
Sol. Increase in the stock of unsold articles is not an investment. An investment is the purchase of goods that are not consumed today but are used in the future to create wealth.

Q13. In a Laissez-faire economy 
लाईसेज़-फेयर अर्थव्यवस्था में
(a) the customers take all the decision regarding production of all the commodities /ग्राहक सभी वस्तुओं के उत्पादन के संबंध में सभी निर्णय लेते हैं
(b) the Government does not interfere in the free functioning of demand and supply forces in the market/ सरकार बाजार में मांग और आपूर्ति बलों के मुक्त कामकाज में हस्तक्षेप नहीं करती है
(c) the private-sector takes all the decisions for price-determination of various commodities produced/ निजी क्षेत्र उत्पादित विभिन्न वस्तुओं के मूल्य निर्धारण के लिए सभी निर्णय लेता है
(d) the Government controls the allocation of all the factors of production/ सरकार उत्पादन के सभी कारकों के आवंटन को नियंत्रित करती है
Show Answer
Ans.(b)
Sol. Laissez-faire is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.

Q14. In calculating National Income which of the following is included?
राष्ट्रीय आय की गणना करते समय  निम्नलिखित में से क्या शामिल होता है?
(a) Services of housewives/ गृहिणियों की सेवाएं
(b) Pensions/ पेंशन
(c) Income of smugglers/ तस्करों की आय
(d) Income of watchmen/ पहरेदारों की आय
Show Answer
Ans.(d)
Sol. The total amount of income accruing to a country from economic activities in a year’s time is known as national income.

Q15. Who propounded the market law?
बाजार का नियम किसने प्रतिपादित किया?  
(a) Adam Smith /एडम स्मिथ
(b) J. B. Say /जे.बी. से
(c) T. R. Malthus/ टी आर माल्थस
(d) David Recardo/ डेविड रिकर्डो
Show Answer
Ans.(b)
Sol. Say's law of markets is a classical economic theory that says that production is the source of demand. According to Say's law, the ability to demand something is financed by supplying a different good.




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