SSC CGL Tier II Economics Quiz for the post of AAO

Q1. With reference to agriculture sector of India, consider
the following statements
1. Rural Infrastructure Development Fund disperses loans to
the states to complete the minor irrigation projects.
2. Rural Infrastructure Development Fund is managed by the
public sector commercial banks.
Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
Q2. Consider the following statements
1. The National Seed Research and Training Centre (NSRTC)
has been notified as a Central Seed Testing and Referral Laboratory from
April-1-2007.
2. The NSRTC has become a member laboratory of the
International Seed Testing Association, Zurich, Switzerland from 2007.
Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
Q3. Swaroop Committee is associated with
(a) financial products marketing
(b) sugar marketing
(c) banking
(d) capital marketing
Q4. Which one of the following ministries is implementing the National Bamboo Mission in India?
(a) Ministry of Science and Technology
(b) Ministry of Rural Development
(c) Ministry of Agriculture
(d) Ministry of North-Eastern Region
Q5. Which of the following is/are the function(s) of Finance
Commission?
(a) Distribution of net proceeds of taxes between Center and
the States
(b) Determine factors governing Grants-in Aid to the States
and the magnitude of the same
(c) To make recommendations to president as to the measures
needed to augment the Consolidated Fund of a State to supplement the resources
of the Panchayats and  Municipalities in
the state
(d) All of the above
Q6. Which of the following is not a method for calculation
of National Income?
(a) Production Method
(b) Income Method
(c) Expenditure Method
(d) Profit Method
Q7. An extra tax that may be added to the existing tax
calculation is –
(a) Service Tax
(b) Surcharge
(c) Sales Tax
(d) All of the above
Q8. Which of the following is the apex authority for Direct
Taxes?
(a) CBDT
(b) CBEC
(c) RBI
(d) SEBI
Q9. All domestic products, including international companies
operating within territory of a  country,
and excluding domestic workers/companies operating in foreign countries,
accounts for –
(a) Gross Domestic Product (GDP)
(b) Gross National Product (GNP)
(c) Net National Product (NNP)
(d) National Income (NI)
Q10.Which of the following body has determined the new base
year for calculating GDP of India?
(a) Reserve Bank of India (RBI)
(b) Securities and Exchange Board of India (SEBI)
(c) Central Statistical Office (CSO)
(d) Competition Commission India (CCI)
Q11. Exchange rate or Conversion rate is –
(a) the rate at which a currency is converted to another
currency
(b) the rate at which a bank pays interest to its savings
deposits
(c) the rate charged at foreign transactions
(d) All of the above
Q12. Consider the following statements :
(1) In the history of Indian planning, the actual growth
rate of the GDP has never been higher than the targeted growth rate.
(2) In the first five year plan, the actual GDP growth rate
was more than the targeted growth rate.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q13. If the valuation of a currency is increased with
respect to another currency, then it is known as……….?
(a) appreciation
(b) depreciation
(c) devaluation
(d) revaluation
Q14. Who decides on the value and volume of bank notes to be
printed and on what basis?
(a) Finance Ministry
(b) Planning Commission
(c) RBI
(d) Stock exchange
Q15. The term “MSME” used in banking parlance means _____?
(a) Mini, Small and Medium Enterprises 
(b) Micro, Small and Medium Enterprises
(c) Mini scale Marketing Enterprises 
(d) Medium Scale Marketing Enterprises
                            SOLUTIONS
S1. Ans.(a)
Sol.
S2. Ans.(c)
Sol.

S3. Ans.(a)
Sol.
S4. Ans.(c)
Sol.

S5. Ans.(d)
Sol.

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

S8. Ans.(a)
Sol.

S9. Ans.(a)
Sol.

S10. Ans.(c)
Sol.

S11. Ans.(a)
Sol.

S12. Ans.(d)
Sol.

S13. Ans.(a)
Sol.

S14. Ans.(c)
Sol.

S15. Ans.(b)
Sol.



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