SSC CGL Tier II Economics(Micro and Macro) Quiz for the post of AAO

Q1. If the
demand of an inferior good falls, Then income of the consumer
(a)
increases
(b) decreases
(c) remains
constant
(d) can be
any of the above
Q2. An
economy is in equilibrium when
(a) planned
consumption exceeds planned saving
(b) planning
consumption exceeds planned investment
(c) intended
investment equals intended savings
(d) intended
investment exceeds intended savings
Q3. Economic
rent refers to
(a) Payment
made for the use of labour
(b) Payment
made for the use of capital
(c) Payment
made for the use of organisation
(d) Payment
made for the use of land
Q4. Demand
of commodity mainly depends upon
(a)
purchasing will
(b) purchasing
power
(c) tax
policy
(d) advertisement
Q5. In
equilibrium, a perfectly competitive firm will equate
(a) marginal
social cost with marginal social benefit
(b) market
supply with market demand
(c) marginal
profit with marginal cost
(d) marginal
revenue with marginal cost
Q6. The
marginal utility curve slopes downward from left to right indicating
(a) a direct
relationship between marginal utility and the stock of commodity
(b) a
constant relationship between marginal utility and the stock of commodity
(c) a
proportionate relationship between marginal utility and the stock of commodity
(d) an
inverse relationship between marginal utility and the stock of commodity
Q7. Same
price prevails throughout the market under
(a) perfect
competition
(b) monopoly
(c) monopolistic
competition
(d) oligopoly
Q8. Different
firms constituting the industry, produce homogeneous goods under
(a) monopoly
(b) monopolistic
competition
(c) oligopoly
(d) perfect
competition
Q9. A
situation of large number of firms producing similar goods is termed as
(a) Perfect competition
(b) Monopolistic
competition
(c) Pure
competition
(d) Oligopoly
Q10. The
difference between the price the consumer is prepared to pay for a commodity
and the price which he actually pays is called
(a)
Consumer’s Surplus
(b) Producer’s
Surplus
(c) Landlord’s
Surplus
(d) Worker’s
Surplus
Q11. Under
Perfect Competition
(a) Marginal
Revenue is less than the Average Revenue
(b) Average
Revenue is less than the Marginal Revenue
(c) Average
Revenue is equal to the Marginal Revenue
(d) Average
Revenue is more than the Marginal Revenue
Q12. Total
fixed cost curve is
(a) Vertical
(b) Horizontal
(c) Positively
sloping
(d) Negatively
sloping
Q13. Gross
Profit means
(a) Total
investment over total savings
(b) Changes
in methods of production
(c) Changes
in the form of business organisation
(d) Total
receipts over total expenditure.
Q14. When
there is a change in demand leading to a shift of the demand curve to the right
at the same price as before, the quantity demanded will
(a) decrease
(b) increase
(c) remain
the same
(d) contract
Q15.
Movement along the same demand curve is known as
(a)
Extension and contraction of demand
(b) Increase
and decrease of demand
(c) Contraction
of supply
(d) Increase
of supply
                            SOLUTIONS
S1. Ans.(a)
Sol.
S2. Ans.(c)
Sol.

S3. Ans.(d)
Sol.
S4. Ans.(b)
Sol.

S5. Ans.(d)
Sol.

S6. Ans.(d)
Sol.
S7. Ans.(a)
Sol.

S8. Ans.(d)
Sol.

S9. Ans.(a)
Sol.

S10. Ans.(a)
Sol.

S11. Ans.(c)
Sol.

S12. Ans.(b)
Sol.

S13. Ans.(d)
Sol.

S14. Ans.(b)
Sol.

S15. Ans.(a)
Sol.
   


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