RRB JE Economy Quiz: 27th March

Dear Readers, GA section is taken on the light note but plays a vital role in achieving the score required to cross the cut off marks.We are providing important Economy Questions for this, it will help you to score good in GA section if you regularly follow the contents provided on scaffold website and adda247 app regarding general knowledge important questions.We wish you the best wishes for all the upcoming exams.

Q1. If cash reserve ratio decreases, credit creation will _______.
यदि नकद आरक्षित अनुपात घटता है, तो क्रेडिट निर्माण _______ होगा।
(a) increase / वृद्धि
(b) decrease / कमी
(c) does not change / परिवर्तित नहीं होता है
(d) first decreases than increases / पहले घटता है फिर बढ़ता है

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S1. 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.

Q2. 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

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S2. 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).

Q3.In a centrally planned economy, the ____________ plans all the important activities in the economy.
एक केंद्रीय नियोजित अर्थव्यवस्था में, ____________ अर्थव्यवस्था में सभी महत्वपूर्ण गतिविधियों की योजना बनाते है.
(a) Industrialists/ उद्योगपति
(b) Citizens / नागरिक
(c) Government/ सरकार
(d) Judiciary/ न्यायतंत्र

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S3. Ans.(c)
Sol. A centrally planned economy is an economic system in which the state or government makes economic decisions rather than the these being made by the interaction between consumers and businesses.

Q4. ‘Law of demand’ implies that when there is excess demand for a commodity, then –
‘मांग का कानून’ का तात्पर्य है कि जब किसी वस्तु के लिए अतिरिक्त मांग होती है, तो
(a) Price of the commodity falls/ वस्तु की कीमत गिरती है
(b) Price of the commodity remains same/ वस्तु की कीमत समान रहती है
(c) Price of the commodity rises/ वस्तु की कीमत बढ़ती है
(d) Quantity demanded of the commodity falls/ वस्तु की मांग की मात्रा में गिरावट

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S4. Ans.(c)
Sol. The law of demand states that quantity purchased varies inversely with price.

Q5.A horizontal demand curve is-
एक क्षैतिज मांग वक्र है-
(a) Relatively elastic / अपेक्षाकृत लोचदार
(b) Perfectly elastic/ पूरी तरह से लोचदार
(c) Perfectly inelastic / पूरी तरह से गैरलोचदार
(d) Relatively inelastic/ अपेक्षाकृत गैरलोचदार

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S5. Ans.(b)
Sol. In the case of a product with a horizontal demand curve, elasticity is said to be perfectly elastic. When the price of a perfectly elastic good or service increases above the market price, the quantity demanded falls to zero.

Q6. The Removal of prohibitions and hindrance by government is called-
सरकार द्वारा निषेध और अवरोध को हटाने को क्या काहा जाता है?
(a) Globalisation / वैश्वीकरण
(b) Privatisation/ निजीकरण
(c) Liberalisation/ उदारीकरण
(d) None of these/इनमें से कोई नहीं

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S6. Ans.(c)
Sol. The economic liberalisation in India refers to the changes and reforms, initiated in 1991, of the country’s economic policies, with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment.

Q7. Which of the following is not the infrastructure Sector?
इनमें से कौन सा बुनियादी ढांचा क्षेत्र नहीं है?
(a) Food Production/ खाद्य उत्पादन
(b) Construction of roads/ सड़कों का निर्माण
(c) Power generation/ विद्युत उत्पादन
(d) Expansion of air ports/ हवाई अड्डे का विस्तार

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S7. Ans.(a)
Sol. Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India’s overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. Infrastructure sector includes power, bridges, dams, roads and urban infrastructure development.

Q8. Which of the following sectors contributed more of the savings in India?
निम्नलिखित क्षेत्रों में से किसने भारत में अधिक बचत का योगदान दिया?
(a) Public Sector / सार्वजनिक क्षेत्र
(b) Household Sector/ घरेलू क्षेत्र
(c) Corporate Sector / व्यासायिक क्षेत्र
(d) Private Sector/ निजी क्षेत्र

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S8. Ans.(b)
Sol. A higher domestic saving rate makes larger investment possible in an economy and hence is a necessary condition for economic development.

Q9. All of the goods which are scarce and limited in supply are called-
सभी वस्तुएं जो दुर्लभ और आपूर्ति में सीमित होते है, उन्हें क्या कहा जाता है?
(a) Luxury goods / विलास-वस्तुएं
(b) Expensive goods/ महंगी वस्तुएं
(c) Capital goods / पूंजीगत वस्तुएं
(d) Economic goods/ आर्थिक वस्‍तुएँ

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S9. Ans.(d)
Sol. Goods that are scarce (are in limited supply in relation to demand) are called economic goods, whereas those whose supply is unlimited and that require neither payment nor effort to acquire, (such as air) are called free goods.

Q10. Who determines the price in a Capitalistic Economy?
पूंजीवादी अर्थव्यवस्था में मूल्य कौन निर्धारित करता है?
(a) Demand and Supply/ मांग और आपूर्ति
(b) Government and Authorities/ सरकार और अधिकारी
(c) Buyers in the market / बाजार में खरीदार
(d) Sellers in the market/ बाजार में विक्रेता

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S10. Ans.(a)
Sol. Capitalism is an economic system in which capital goods are owned by private individuals or businesses. In a capitalistic economy the prices of goods, services and labour are determined by supply and demand.