Previous Year Economics Questions for SSC CGL 2017

Here we are providing an Economic Quiz of 15 Most important Question with accordance to the syllabus of SSC CGL. It will help you to fetch more marks in final exam 

Q1.The most appropriate measure of a country’s economic growth is its :
(a) Gross Domestic Product
(b) Net Domestic Product
(c) Net National Product
(d) Per Capita Real Income 

Q2. Which of the following efforts fall under Financial Inclusion Plan (FIP) of RBI / government?
(a) Nationalization of banks
(b) Priority Sector Lending (PSL) targets
(c) Zero balance accounts, like BSBDA, Jan-Dhan Account, Small Account, etc.
(d) All of the above
Q3. In the short run, when the output of a firm increases, its average fixed cost:
(a) increases.
(b) decreases.
(c) remains constant.
(d) first declines and then rises.
Q4. Who is a Banking / Business Correspondent Agent (BCA)?
(a) An authorized representative of a bank, who offer banking services where the bank doesn’t have a branch
(b) Any person who provides banking services in rural area
(c) An authorized representative of a bank, who makes profit for banks, by making business
(d) All of the above
Q5. What do you mean by “Outcome Budget”?
(a) It denotes reaction of the media after Budget Papers are approved in the Parliament
(b) It aims to measure performance of the Government in various departments
(c) It is a report submitted by the Government of India indicating made in different projects by ministries and  departments   as a first step towards converting outlays into income
(d) None of the above
Q6. What is ‘Hawala’?
(a) Illegal transactions of foreign exchange
(b) Full details of a subject
(c) Illegal trading of shares
(d) Tax evasion
Q7. ‘Closed Economy’ is that economy in which …………?
(a) Neither export nor import takes place
(b) Deficit financing takes place
(c) Only export takes place
(d) None of the above
Q8. The SDR was created by the IMF in ____________ as a supplementary international reserve asset, in the context of the Bretton Woods fixed exchange rate system.
(a) 1945
(b) 1969
(c) 1980
(d) 1991
Q9. 2nd Narasimham Committee Report relates to?
(a) Insurance Sector Reform
(b) Banking Sector Reform
(c) Agricultural Sector Reform
(d) Industrial Sector Reform
Q10.In an open economy, the National Income (Y) of the economyis :
(C = Consumption, I = Investment, G = Government expenditure, X = Total exports, M = Total import)
(a) Y=C+I+G+X
(b) Y=I+G – X+M
(c) Y =C+I +G+(X – M)
(d) Y=C+I – G+X – M
Q11.Who wrote a book describing the theory of economic drain of India during British rule ?
(a) Late Lajpat Rai
(B) Mahatma Gandhi
(c) Jawahar Lal Nehru
(d) DadabhaiNaoroji
Q12. Devaluation of a currency means
(a) Reduction in the value of a currency vis-a-vis major internationally traded currencies
(b) Permitting the currency to seek its worth in the international market
(c) Fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
(d) Fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
Q13. 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 
Q14. 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
Q15. Economics is a 
(a) Computer science
(b) Physical science
(c) Social science

(d) Natural science


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