Previous Years Economics Questions for SSC CGL Exam 2017

 


Q1. Other things being equal, a decrease in quantity demanded of a commodity can be caused by
(a) A rise in the price of commodity
(b) A rise in the income of the consumer
(c) A fall in the price of a commodity
(d) A fall in the income of the consumer

Q2. Which market forms allow free entry and exit of firms?  
(a) Perfect and Monopolistic
(b) Perfect and Oligopoly
(c) Oligopoly and Monopoly
(d) Monopoly and Monopolistic
Q3. The Psychological law of consumption states that  
(a) Proportionate increase in consumption is less than proportionate increase in income
(b) Increase in incomes is equal to increase in consumption
(c) Increase in consumption is greater than increase in income
(d) Consumption does not change with a change in income 
                                                                                                                                                                                               
Q4. Increase in cash reserve ratio leads to  
(a) Increase in bank credit
(b) Decrease in bank credit
(c) Constant bank credit
(d) Excess bank credit
Q5. The Phillip’s curve is the schedule showing the relationship between  
(a) Aggregate supply and demand
(b) Total saving and investment
(c) The rate of unemployment and rate of inflation
(d) Demand for and supply of loanable funds
Q6. A firm practising price discrimination will be  
(a) Charging different prices for different qualities of a product 
(b) Buying in the cheapest and selling in the dearest markets
(c) Charging different prices in different markets for the same product
(d) Buying only from firms selling in bulk at a distance
Q7. Private investment is otherwise called as  
(a) Autonomous investment
(b) Foreign institutional investment
(c) Foreign direct investment 
(d) Induced investment
Q8. The main feature of a capitalist economy is
(a) Administered prices 
(b) Public ownership
(c) Economic planning  
(d) Private ownership
Q9. Which one of the following pairs of goods is an example for joint supply?
(a) Coffee and Tea 
(b) Ink and Pen
(c) Tooth brush and Paste
(d) Wool and Mutton
Q10. Production function relates to   
(a) Costs to outputs
(b) Costs to inputs
(c) Inputs to outputs
(d) Wage level to profits
Q11. “Economics is what it ought to be” This statement refers to  
(a) Normative economics
(b) Positive economics
(c) Monetary economics
(d) Fiscal economics
Q12. The terms ‘Micro Economics’ and ‘Macro Economics’ were coined by—
(a) Alfred Marshall
(b) Ragnar Nurkse
(c) Ragnar Frisch
(d) J.M. Keynes
Q13. Which one of the following is a developmental expenditure?
(a) Irrigation expenditure 
(b) Civil administration
(c) Debt Services
(d) Grant-in-aid
Q14. Which one of the following is not a method of measurement of National Income? 
(a) Value Added Method
(b) Income Method
(c) Investment Method
(d) Expenditure Method
Q15. Labour intensive technique would get chosen in a 
(a) Labour Surplus Economy
(b) Capital Surplus Economy
(c) Developed Economy
(d) Developing Economy
                     
Solutions
S1. Ans.(a)
Sol.
S2. Ans.(a)
Sol.
S3. Ans.(a)
Sol.
S4. Ans.(b)
Sol.
S5. Ans.(c)
Sol.
S6. Ans.(c)
Sol.
S7. Ans.(d)
Sol.
S8. Ans.(d)
Sol.
S9. Ans.(d)
Sol.
S10. Ans.(c)
Sol.
S11. Ans.(a)
Sol.
S12. Ans.(c)
Sol.
S13. Ans.(a)
Sol.
S14. Ans.(c)
Sol.
S15. Ans.(a)
Sol.

  

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