Economics Questions for SSC CGL 2017

Q1.The term utility means—
(a) Usefulness of a commodity
(b) The satisfaction which a commodity yields
(c) The service which a commodity is capable of rendering
(d) None of these

Q2.Under flexible exchange rate system, the exchang rate is determined by—
(a) The Central Bank of the country
(b) The forces of demand and supply in the foreign exchange market
(c) The price of gold
(d) The purchasing power of currencies
Q3.If the change in demand for a commodity is at a faster rate than change in the price of the commodity then the demand is—
(a) Perfectly inelastic
(b) Elastic
(c) Perfectly elastic
(d) Inelastic
Q4.’Equilibrium Price’ is that price which—
(a) Maximizes producers profit
(b) Equates consumers and producers surplus
(c) Maximize consumers satisfaction
(d) Equates supply and demand
Q5.Preparation of butter, ghee by household for their own use is a part of
(a) consumption
(b) own-account production
(c) household capital formation
(d) industrial production
Q6.Which of the following is not helpful in controlling money supply?
(a) Free market policy
(b) CRR
(c) Bank Rate
(d) Change in margin requirement
Q7. Which one of the following is more effective in controlling prices in the long run?
(a) decrease in production
(b) increase in production
(c) decrease in the rate of interest
(d) increase in the rate of employment
Q8. The balance of payment comprises
(a) a current account of goods and services only
(b) a capital account of financial assets only
(c) official settlement accounts only
(d) all of these
Q9. what is the name of BRICS bank and who is the first president of this bank respectively-
(a) Asian Bank and KV kamath
(b) Asian Development bank and SS Mundra
(c) New development Bank and KV Kamath
(d) Development bank SS mundra
Q10. The best Index to represent standard of living in a country
(a) Poverty Ratio
(b) National Income
(c) GDP
(d) Per capita Income
Q11.Net National Product (NNP) of a country is:
(a) GDP minus depreciation allowances
(b) GDP plus net income from abroad
(c) GNP minus net income from abroad
(d) GNP minus depreciation
Q12. Which of the following can be called as a part of the Service Sector?
(a) Textile Mills
(b) Banking
(c) Coal Mines
(d) Agriculture
Q13. Which sector of Indian Economy contributes largest to the Gross National Product?
(a) Primary Sector
(b) Secondary Sector
(c) Tertiary Sector
(d) Public Sector
Q14. Which of the following is definitely a major indication of the State of the economy of a country?
(a) Rate of GDP growth
(b) Rate of inflation
(c) Number of Banks in a country
(d) Stock of foodgrains in a country.
Q15. National Income estimates in India are prepared by:
(a) Planning commission
(b) Reserve Bank of India
(c) Central Statistical Organisation
(d) Indian Statistical Institute

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