SSC CGL Tier II Economics(Micro and Macro) Quiz for the post of AAO

 
Q1. Who
among the following is not a classical economist?
(a) David
Ricardo 
(b) John
Stuart Mill
(c) Thomas
Malthus
(d) John
Maynard Keynes 
Q2. When Average
Cost Production (ACP) falls, marginal cost of production must be  
(a) Rising
(b) Falling
(c) Greater
than the average cost
(d) Less
than the average cost
Q3. The Law
of Demand expresses
(a) Effect
of change in price of a commodity on its demand 
(b) Effect
of change in demand of a commodity on its price
(c) Effect
of change in demand of a commodity over the supply of its substitute
(d) None of
the above
Q4. Disinvestments
is 
(a) Offloading
of shares of privates companies to government  
(b) Offloading
of government shares to private companies
(c) Increase
in investment
(d) Closing
down of business concerns
Q5. The
demand curve for a Giffen good is
(a) Upward
rising 
(b) Downward
falling
(c) Parallel
to the quantity axis
(d) Parallel
to the price axis
Q6. Imputed
gross rent of owner occupied buildings is a part of
(a) Capital
formation 
(b) Final
consumption
(c) Intermediate
consumption
(d) Consumer
durable
Q7. The
national income consists of a collection of goods and services reduced to
common basis by being measured in terms of money who says this?  
(a) Samuelson
(b) Kuznets
(c) Hicks
(d) Pigou
 Q8. The
supply of agricultural products is generally
 
(a) Elastic
(b) Inelastic
(c) Perfectly
elastic
(d) Perfectly
inelastic
Q9. When the
total product rises, at an increasing rate, the  
 
(a) Marginal
product is zero
(b) Marginal
product is rising
(c) Marginal
product is falling
(d) Marginal
product remains constant


Q10. Economies of Scale means reduction in
(a) Unit
cost of production 
(b) Unit
cost of distribution
(c) Total
cost of production 
(d) Total
cost of distribution
Q11. All of
the goods which are scarce and limited in supply are called
(a) Luxury
goods
(b) Expensive
goods
(c) Capital
goods
(d) Economic
goods
Q12. Engel’s
Law states the relationship between
(a) Quantity
demanded and price of a commodity 
(b) Quantity
demanded and price of substitutes
(c) Quantity
demanded and tastes of the consumers 
(d) Quantity
demanded and income of the consumers
Q13. Capital
: Output Ratio of a measures
(a) Its per
unit cost of production 
(b) The
amount of capital invested per unit of output
(c) The
ratio of capital depreciation to quantity of output
(d) The
ratio of working capital employed to quantity of output
Q14. Perfect
competition means  
(a) Large
number of buyers and less sellers
(b) Large
number of buyers and sellers
(c) Large
number of sellers and less buyers
(d) None of
the above
Q15. Core
industries are
(a) Basic
industries 
(b) Consumer
goods industries
(c) Capital
goods industries 
(d) Government
industries
                            SOLUTIONS
S1. Ans.(d)
Sol.
S2. Ans.(d)
Sol.

S3. Ans.(a)
Sol.
S4. Ans.(b)
Sol.

S5. Ans.(a)
Sol.

S6. Ans.(b)
Sol.
S7. Ans.(c)
Sol.

S8. Ans.(b)
Sol.

S9. Ans.(b)
Sol.

S10. Ans.(a)
Sol.

S11. Ans.(d)
Sol.

S12. Ans.(d)
Sol.

S13. Ans.(b)
Sol.

S14. Ans.(b)
Sol.

S15. Ans.(a)
Sol.



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