Economics Questions for SSC & Railway Exam 2018 Based on Adda247 Book: 4th November

Dear aspirants,

With the passing months, exam preparation for govt. exams viz. SSC CGL, SSC CHSL, SSC CPO, SSC JE, SSC MTS and other prominent competitive exams is required to ace your performance in these sought after govt job. based exams. And to facilitate you with an extraordinary experience of learning via the best study content of ADDA247 Publication Books, we will be providing daily quizzes of all the four mandatory subjects let it be Quantitative Aptitude, English Language, Reasoning and General Awareness right away from ADDA247 Publication Best Books For all SSC Exams to facilitate you with our Publication Books’ efficiency encompassed with comprehensive study material subsumed with holistic notes, Practice Sets and Exercises. 

Starting from today, the quizzes on SSCADDA for all SSC Exams will be based on ADDA247 Publication Books to make you experience a beneficial journey which drum up your efforts, preparation strategy and time managing skills. GA holds its own importance in all SSC Exams considering the same, today’s GA Quiz is all set to catalyze your preparation.


Q1. Bilateral monopoly situation is
द्विपक्षीय एकाधिकार स्थिति है-
(a) when there are only two sellers of a product/ जब वहाँ एक उत्पाद का केवल दो विक्रेता हैं
(b) when there are only two buyers of a product/ जब वहाँ एक उत्पाद का केवल दो खरीदार हैं
(c) when there is only one buyer and one seller of a product/ जब वहाँ केवल एक खरीदार और एक उत्पाद के एक विक्रेता है
(d) when there are two buyers and two sellers of a product/ जब वहाँ दो खरीदार और एक उत्पाद के दो विक्रेता हैं

Show Answer
S1. Ans.(c)
Sol. ‘Bilateral Monopoly’ A market that has only one supplier and one buyer. The one supplier will tend to act as a monopoly power, and look to charge high prices to the one buyer. The lone buyer will look towards paying a price that is as low as possible.

Q2. The BRICS New Development Bank (NDB) has been set up for –
ब्रिक्स न्यू डेवलपमेंट बैंक (एनडीबी) की स्थापना किस लिए की गई है?
(a) Funding infrastructure projects in emerging economics for sustainable development /सतत विकास के लिए उभरती अर्थव्यवस्थाओं में बुनियादी ढांचा परियोजनाएं को वित्त पोषित करना
(b) Funding non-infrastructure projects in emerging economics for sustainable development/ सतत विकास के लिए उभरते अर्थशास्त्र में गैर-बुनियादी ढांचा परियोजनाओं को वित्त पोषित करना
(c) Funding infrastructural projects in developed countries/ विकसित देशों में बुनियादी ढांचा परियोजनाओं को वित्त पोषित करना
(d) Funding infrastructural projects in African countries only/ केवल अफ्रीकी देशों में बुनियादी ढांचा परियोजनाओं को वित्त पोषित करना

Show Answer
S2. Ans.(a)
Sol. The New Development Bank’s purpose is to support infrastructure and sustainable development projects in BRICS and other emerging economies.

Q3. Redistribution of income in a country can be brought about through
किसी देश में आय का पुनर्वितरण किसके द्वारा लाया जा सकता है?
(a) Progressive taxation combined with progressive expenditure/प्रगतिशील व्यय के साथ प्रगतिशील कराधान द्वारा
(b) Progressive taxation combined with regressive expenditure/ प्रगतिशील कराधान के साथ संयुक्त प्रगतिशील कराधान द्वारा
(c) Regressive taxation combined with regressive expenditure/ प्रतिकूल व्यय के साथ संयुक्त प्रतिकूल कराधान द्वारा
(d) Regressive taxation combined with progressive expenditure/ प्रगतिशील व्यय के साथ संयुक्त प्रतिकूल कराधान द्वारा

Show Answer
S3. Ans.(a)
Sol. Progressive taxation is a tax that takes a larger percentage from high-income earners than it does from low-income individuals. Progressive expenditure means large percentage of expenditure from high income earners than low income earners.

Q4. The major objective of monetary policy is to?
मौद्रिक नीति का मुख्य उद्देश्य है?
(a) Increase government’s tax revenue/ सरकार के कर राजस्व में वृद्धि
(b) Revamp the Public Distribution System/ सार्वजनिक वितरण प्रणाली को संशोधित करना
(c) Promote economic growth with price stability/ मूल्य स्थिरता के साथ आर्थिक विकास को बढ़ावा देना
(d) Weed out corruption in the economy/ अर्थव्यवस्था में भ्रष्टाचार को ख़तम करना

Show Answer
S4. Ans.(c)
Sol. Monetary policy is designed as to maintain the price stability in the economy. Thus, its main objective is to promote economic growth with Price stability. Monetary policy is the macroeconomic policy laid down by central bank.

Q5. What will you call a system of taxation under which the poorer sections are taxed at higher rates than the richer sections?
आप कराधान की उस प्रणाली को क्या कहेंगे जिसके तहत गरीब वर्गों को अमीर वर्गों की तुलना में उच्च दरों पर कर लगाया जाता है?
(a) Progressive tax/ वर्धमान कर
(b) Proportional tax/ आनुपातिक कर
(c) Regressive tax/ ह्रासमान कर
(d) Degressive tax/ आक्रामक कर

Show Answer
S5. Ans.(c)
Sol. A regressive tax is a tax that takes a larger percentage of income from low-income earners (poorer section) than from high-income earners (richer section).

Q6. According to Malthusian theory of population
माल्थुसियन के जनसंख्या के सिद्धांत के अनुसार
(a) Population increases in geometric ratio, food supply increases in arithmetic ratio/ ज्यामितीय अनुपात में जनसंख्या बढ़ जाती है, अंकगणितीय अनुपात में खाद्य आपूर्ति बढ़ जाती है
(b) Population increases in arithmetic ratio, food supply increases in geometric ratio/ अंकगणितीय अनुपात में जनसंख्या बढ़ जाती है, ज्यामितीय अनुपात में खाद्य आपूर्ति बढ़ जाती है
(c) Population increases in a harmonic mean, food supply increases in geometric ratio/ एक हार्मोनिक मतलब में जनसंख्या बढ़ जाती है, ज्यामितीय अनुपात में खाद्य आपूर्ति बढ़ जाती है
(d) Population increases in a harmonic ratio, food supply increases in a arithmetic ratio/ एक हार्मोनिक अनुपात में जनसंख्या बढ़ जाती है, अंकगणितीय अनुपात में खाद्य आपूर्ति बढ़ जाती है

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S6. Ans.(a)


Sol. Malthusian theory of population states that “By nature human food increases in a slow arithmetical ratio; man himself increases in a quick geometrical ratio unless want and vice stop him. The increase in numbers is necessarily limited by the means of subsistence Population invariably increases when the means of subsistence increase, unless prevented by powerful and obvious checks.











































Q7. Which of the following tax systems will help to reduce economic inequalities in India?
निम्नलिखित में से कौन सी कर प्रणाली भारत में आर्थिक असमानताओं को कम करने में मदद करेगी?
(a) Regressive Tax/ प्रतिकूल कर
(b) Progressive Tax/ वर्धमान कर
(c) Flat rate tax/ फ्लैट दर कर
(d) None of these/इनमें से कोई नहीं

Show Answer
S7. Ans.(b)
Sol. A progressive tax is a tax in which the tax rate increases as the taxable amount increases.

Q8. What is MUDRA?
मुद्रा क्या है?
(a) Development and Refinance Agency / विकास और पुनर्वित्त एजेंसी
(b) Scheme for Agricultural Insurance / कृषि बीमा के लिए योजना
(c) New Planet Discovered / नया ग्रह खोजा गया
(d) Development and Regulatory Authority for Urban Township/ शहरी टाउनशिप के लिए विकास और नियामक प्राधिकरण

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S8. Ans.(a)


Sol. Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015.













































Q9. Which among the following is a characteristic capitalist economy of? 
निम्नलिखित में से कौन सा पूंजीवादी अर्थव्यवस्था की एक विशेषता है?
(a) Minimum government intervention/ न्यूनतम सरकारी हस्तक्षेप
(b) Market forces are highly regulated/ बाजार बलों को अत्यधिक विनियमित किया जाता है
(c) It is a socialist system/ यह एक समाजवादी प्रणाली है
(d) Maximum government intervention/ अधिकतम सरकारी हस्तक्षेप

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S9. Ans.(a)


Sol. The government’s role in capitalism is to maintain a level playing field I.e. minimum intervention. It prevents the unfair advantages obtained by monopolies or oligarchies. It also maintains infrastructure. It taxes capital gains and income to accomplish these goals.













































Q10. Value of Total Goods and Services produced in a country is its _____________ .
किसी देश में उत्पादित कुल सामानों और सेवाओं का मूल्य _____________ है.
(a) Gross Domestic Product/ सकल घरेलु उत्पाद
(b) Gross Revenue Income/ सकल राजस्व आय
(c) Total Goods Revenue/ कुल सामान राजस्व
(d) Total Income/ कुल आय

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S10. Ans.(a)


Sol. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.














































Q11. Lowering of value of currency relative to a foreign reference currency is called _________.
एक विदेशी संदर्भ मुद्रा के सापेक्ष मुद्रा के मूल्य को कम करने के लिए _________ कहा जाता है।
(a) Devaluation/ अवमूल्यन
(b) Revaluation/ पुनर्मूल्यांकन
(c) Down valuation/ निम्न मूल्यांकन
(d) Negative valuation/ नकारात्मक मूल्यांकन

Show Answer
S11. Ans.(a)
Sol. Devaluation is a deliberate downward adjustment to the value of a country’s currency relative to another currency.

Q12. If cash reserve ratio decreases, credit creation will _______.
यदि नकद आरक्षित अनुपात घटता है, तो क्रेडिट निर्माण _______ होगा।
(a) Increase/बढेगा
(b) Decrease/घटेगा
(c) Does not change/कोई बदलाव नहीं होगा
(d) First decreases than increases/पहले घटेगा फिर बढेगा
Show Answer
S12. Ans.(a)
Sol. When the Federal Reserve lowers the reserve ratio, it lowers the amount of cash banks are required to hold in reserves and allows them to make more loans to consumers and businesses. This increases the money supply and expands the economy.
Q13. The goods which people consume more, when their price rises are called _______.
वह वस्तुएं जिनका उपभोग व्यक्ति कीमत बढ़ने के बाद भी करता है ऐसी वस्तुओं को क्या कहा जाता है?
(a) Essential goods/ आवश्यक वस्तुएं
(b) Capital goods/ पूंजीगत वस्तुएं
(c) Veblen goods/ वेबलेन वस्तु
(d) Giffen goods/ निम्नस्तरीय वस्तुएँ
Show Answer
S13. Ans.(d)
Sol. A Giffen good is a good for which demand increases as the price increases, and falls when the price decreases.
Q14. Stagflation is defined as –
मुद्रास्फीतिजनित मंदी को किस रूप में परिभाषित किया गया है?
(a) low inflation, low growth, low unemployment/ कम मुद्रास्फीति, कम वृद्धि, कम बेरोजगारी
(b) high inflation, low growth, high unemployment/ उच्च मुद्रास्फीति, कम वृद्धि, उच्च बेरोजगारी
(c) high inflation, high growth, high unemployment/ उच्च मुद्रास्फीति, उच्च वृद्धि, उच्च बेरोजगारी
(d) low inflation, high growth, low unemployment/ कम मुद्रास्फीति, उच्च वृद्धि, कम बेरोजगारी
Show Answer
S14. Ans.(b)
Sol. A condition of slow economic growth and relatively high unemployment accompanied by rising prices, or inflation and a decline in Gross Domestic Product (GDP).
Q15. Movement along the supply curve is known as ______ .
आपूर्ति वक्र के साथ गति को ______ के रूप में जाना जाता है।
(a) Contraction of supply/ आपूर्ति का संकुचन
(b) Expansion of supply/ आपूर्ति का विस्तार
(c) Increase in supply / आपूर्ति में वृद्धि
(d) Expansion and contraction of supply/ आपूर्ति का विस्तार और संकुचन
Show Answer



S15. Ans.(d)


Sol. A movement along the supply curve will occur when the price of the good changes and the quantity supplied changes in accordance to the original supply relationship. In other words, a movement alongs the supply curve is known as Expansion and Contraction of supply.



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