SSC CGL 2015 : Economics Quiz

1. Redistribution polices geared to reduce economic inequalities include?
 A. Land reforms
 B. Progressive tax policies
 C. Rural development policies
 D. All of the above

2.The Budget Deficit means?
A. Difference between revenue receipts and revenue expenditure
B. Fiscal deficit less interest payments
C. Difference between all the receipts and all the expenditure
D. The excess of total expenditure, including loans, net of lending over revenue receipts
3.In the second phase of nationalization of commercial banks, how many banks were nationalized?
A. 4
B.6
C. 8
D.10
4.Depreciation means?
A.Closure of a plant due to labour trouble
B. Destruction of a plant in a fire accident
C. Loss of equipment over time due to wear and tear
D. Closure of a plant due to lock out
5.Deficit financing leads to inflation in general, but it can be checked if?
A. Only aggregate demand is increased
B. Government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
C. All the expenditure is denoted national debt payment only
D. All of the above
6. India changed over to the decimal system of coinage in the year?
A. April 1957
B. April 1960
C. April 1965
D. April 1972
7. The main source of India’s national income is?
A.  Agriculture
B. Industry
C. Forestry
D. None of the above
8. The Planning Commission of India as per Indian Constitution is?
A. An autonomous body
B. An executive body
C. An advisory body
D. A Government department
9.’Economic Planning’ refers to ?
A. The allocation of resources
B. The planning of manpower
C. The mobilisation of both taxes and manpower
D. The mobilisation of taxes
10.Which of the following is a Direct Tax?
A. Excise duty
B. Sales tax
C. Income tax
D. VAT

ANSWER KEY: 1- (D), 2- (C), 3- (B), 4- (C), 5- (D), 6- (A), 7- (A), 8- (C), 9- (A), 10- (C)

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