Important Economics Quiz for SSC CHSL 2017

Economics Questions for SSC CHSL 2017-18 Exam:

Dear Students, SSC will be conducted CHSL Exam from the 4th March to 26th March 2018. You can apply for CHSL till 18th December 2017. At Adda247, we are providing questions for General Awareness section. Today, in this quiz we shall study Economics Questions for CHSL Exam, Study and Score great marks in the Exam. We wish you all the very best for the exam.

प्रिय छात्रों, SSC CHSL परीक्षा  4 मार्च से 26 मार्च 2018 तक आयोजित कि जायेगी. आप 18 दिसंबर 2017 तक CHSL के लिए आवेदन कर सकते हैं. Adda247 पर, हम सामान्य जागरूकता अनुभाग के लिए प्रश्न प्रदान कर रहे हैं.आज, इस प्रश्नोत्तरी में हम CHSL परीक्षा, अध्ययन और स्कोर के लिए अर्थशास्त्र प्रश्नों का अध्ययन करेंगे. परीक्षाओं के लिए हमारी ओर से शुभकामनाएं.

Q1.In which year National Rural Health Mission was launched?
(a) 2004
(b) 2005
(c) 2006
(d) 2007

Q2.The Economic Advisory Council has been established in India as per ____?
(a)Constitution of India
(b) An act of parliament
(c) An ordinance promulgated by President
(d) None of the above

Q3.Which among the following is not directly controlled by RBI?
(a)Bank rate
(b) Base rate
(c) Repo rate
(d) Cash Reserve Ratio

Q4.Which among the following is the largest producer of wheat in India?
(a)Punjab
(b) Uttar Pradesh
(c) Rajasthan
(d) Madhya Pradesh

Q5.Which among the following country is India’s top trading partner?
(a) UAE
(b) USA
(c) Japan
(d) China

Q6.In which year Competition Commission of India was established?
(a) 2002
(b) 2003
(c) 2004
(d) 2005

Q7.Which among the following is not a part of World Bank?
(a) Asian Development Bank
(b) International Bank for Reconstruction and Development (IBRD)
(c) International Finance Corporation
(d) International Development Association

Q8.Buoyancy of a tax is defined as –
(a) increase of tax rate
(b) decrease in tax revenue
(c) increase in tax revenue
(d) increase in ratio of direct to indirect tax

Q9.The difference between the GNP and the NNP is equal to the –
(a) Consumer expenditure on durable goods
(b) Direct tax revenue
(c) Indirect tax revenue
(d) Capital depreciation

Q10.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

Q11.National Income Estimates in India are prepared by–
(a) National Development Council
(b) National Productivity Council
(c) National Income Committee
(d) Central Statistical Organisation

Q12.The concept of mixed economy means–
(a) To have balanced development in the agricultural and industrial sector
(b) Simultaneous development of the rural and urban sector
(c) To have equal distribution of wealth among the rural and the urban poor
(d) Simultaneous existence of the private and public sector

Q13.Economic problem arises because of–
(a) Scarcity of means
(b) Multiplicity of resources
(c) Scarcity of wants
(d) Over Population

Q14.Who is called the ‘Father of Economics’?
(a) JM Keynes
(b) Malthus
(c) Ricardo
(d) Adam Smith

Q15.The main feature of a capitalist economy is–
(a) Administered Prices
(b) Public Ownership
(c) Economic Planning
(d) Private Ownership

S1.Ans.(b)
Sol.National Rural Health Mission was launched in 2005.

S2.Ans.(d)
Sol.Economic Advisory Council to the Prime Minister (PMEAC) is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister.

S3.Ans.(b)
Sol.Base Rate is the minimum lending rate that banks can charge their customers from July 1, 2010. Prior to this all lending rates were pegged to a Bank’s Prime Lending Rate or PLR. It is not directly controlled by RBI.

S4.Ans.(b)
Sol.Uttar Pradesh is largest producer of wheat in india.

S5.Ans.(d)
Sol.India’s top 10 trade partners are China, USA, UAE, Hong Kong, Saudi Arabia, South Korea, Germany, Switzerland, Indonesia and Singapore.

S6.Ans.(b)
Sol.Competition Commission of India is a body of the Government of India responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India. It was established on 14 October, 2003.

S7.Ans.(a)
Sol.World Bank is one of five institutions created at Breton Woods Conference in 1944. Asian development bank is not a part of world bank group.

S8.Ans.(c)
Sol.Buoyancy of a tax is increase of tax revenue.

S9.Ans.(d)
If we subtract the depreciation charges from the gross national product, we get net national product at market price.
NNP = GNP – Depreciation

S10.Ans.(c)
Sol.There are only three methods are using for calculating of national income i.e., value added method, income method and expenditure method.

S11.Ans.(d)
Sol.Central Statistical Office (CSO) was set-up in 1949. It is one of the two wings of the National Statistical Organisation (NSO), along with National Sample Survey Office (NSSO), responsible for coordination of statistical activities in the country and for evolving and maintaining statistical standards.

S12.Ans.(d)
Sol.Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. It means reflecting both capitalism and socialism.

S13.Ans.(a)
Sol.Economic problem arises due to two reasons –
(i) The scarcity of means or resources having alternative uses
(ii) Unlimited human wants.

S14.Ans.(d)
Sol.Adam Smith is regarded as ‘Father of Economics’, due to his contribution towards economic theories.

S15.Ans.(d)
Sol.The main feature of a capitalist economy is private ownership of factors of production. Private owners hold the resources and take decisions to maximise their profits.

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